Allstate (NYSE:ALL) Price Target Lowered to $216.00 at Bank of America

Allstate (NYSE:ALL) had its price objective reduced by Bank of America from $226.00 to $216.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other analysts also recently issued reports on ALL. Barclays began coverage on shares of Allstate in a research note on Wednesday, September 4th. They set an underweight rating and a $175.00 target price on the stock. Jefferies Financial Group raised their price target on shares of Allstate from $217.00 to $231.00 and gave the company a buy rating in a report on Wednesday. Roth Mkm reaffirmed a buy rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. TD Cowen increased their target price on Allstate from $193.00 to $224.00 and gave the company a buy rating in a research note on Tuesday, September 3rd. Finally, Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the stock an overweight rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $199.24.

Allstate Price Performance

ALL traded up $2.31 during trading on Thursday, reaching $188.10. The stock had a trading volume of 101,612 shares, compared to its average volume of 1,540,924. The stock has a 50 day moving average of $184.04 and a two-hundred day moving average of $172.89. Allstate has a 1-year low of $113.04 and a 1-year high of $193.97. The firm has a market capitalization of $49.67 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. 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 posted its quarterly earnings results 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 net margin of 5.03% and a return on equity of 24.05%. 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 business posted ($4.42) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Allstate will post 15.19 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, August 30th. Allstate’s dividend payout ratio is currently 33.61%.

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 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 238,305 shares of company stock worth $43,082,657 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Allstate by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after acquiring an additional 31,789 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after buying an additional 8,454 shares during the last quarter. AQR Capital Management LLC raised its stake in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after acquiring an additional 464,337 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after purchasing an additional 75,698 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.