Allstate (NYSE:ALL) Given New $220.00 Price Target at Raymond James

Allstate (NYSE:ALL) had its price target upped by Raymond James from $205.00 to $220.00 in a report released on Friday, Benzinga reports. The firm currently has a strong-buy rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lifted their price objective on Allstate from $199.00 to $204.00 and gave the company a buy rating in a research note on Thursday, August 15th. TD Cowen boosted their price objective on Allstate from $193.00 to $224.00 and gave the company a buy rating in a research report on Tuesday, September 3rd. Barclays initiated coverage on shares of Allstate in a research note on Wednesday, September 4th. They set an underweight rating and a $175.00 price objective on the stock. StockNews.com lowered Allstate from a strong-buy rating to a buy rating in a report on Wednesday, August 21st. Finally, Morgan Stanley reduced their target price on shares of Allstate from $205.00 to $200.00 and set an overweight rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $195.12.

Allstate Stock Performance

NYSE:ALL opened at $181.18 on Friday. The firm has a market cap of $47.82 billion, a price-to-earnings ratio of 39.95, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a 1-year low of $112.42 and a 1-year high of $193.97. The firm’s fifty day moving average price is $183.18 and its 200 day moving average price is $172.46.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.04 billion. During the same period in the previous year, the firm posted ($4.42) earnings per share. Allstate’s revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts expect that Allstate will post 15.2 EPS for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.03%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on 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 sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently modified their holdings of ALL. Rise Advisors LLC bought a new position in Allstate during the first quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the first quarter valued at approximately $26,000. Versant Capital Management Inc increased its stake in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. acquired a new stake in Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC boosted its position in shares of Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

About Allstate

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.