Allstate (NYSE:ALL) Price Target Raised to $244.00 at Piper Sandler

Allstate (NYSE:ALL) had its price objective hoisted by Piper Sandler from $206.00 to $244.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lifted their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. The Goldman Sachs Group boosted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley upped their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Keefe, Bruyette & Woods upped their price target on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.19.

Allstate Stock Down 0.4 %

ALL stock opened at $207.39 on Tuesday. The stock has a market capitalization of $54.92 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.83 and a beta of 0.48. Allstate has a 52 week low of $134.17 and a 52 week high of $209.88. The firm has a 50-day simple moving average of $193.02 and a 200-day simple moving average of $179.03. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Equities analysts forecast that Allstate will post 16.26 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is 23.83%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allstate

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the period. Geode Capital Management LLC grew its stake in Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after purchasing an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates raised its position in Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after purchasing an additional 145,986 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after buying an additional 47,038 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.