The Goldman Sachs Group Raises Allstate (NYSE:ALL) Price Target to $204.00

Allstate (NYSE:ALL) had its target price lifted by The Goldman Sachs Group from $199.00 to $204.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other research analysts also recently issued reports on ALL. BMO Capital Markets boosted their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Morgan Stanley cut their price target on shares of Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. StockNews.com lowered Allstate from a strong-buy rating to a buy rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Allstate from $193.00 to $200.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Finally, Roth Mkm reiterated a buy rating and issued a $200.00 target price on shares of Allstate in a report on Wednesday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $191.94.

Allstate Stock Performance

Shares of Allstate stock opened at $179.64 on Thursday. The stock has a market cap of $47.41 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 1.86 and a beta of 0.48. Allstate has a twelve month low of $104.29 and a twelve month high of $184.30. The company’s fifty day moving average is $166.45 and its 200 day moving average is $165.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the company posted ($4.42) EPS. The business’s revenue was up 12.4% on a year-over-year basis. Sell-side analysts forecast that Allstate will post 13.64 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate in the 1st quarter worth $25,000. Private Wealth Management Group LLC bought a new stake in Allstate in the 4th quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Allstate in the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate during the 1st quarter worth approximately $26,000. Finally, Versant Capital Management Inc boosted its stake in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.