Allstate (NYSE:ALL) Price Target Raised to $230.00

Allstate (NYSE:ALL) had its price target raised by The Goldman Sachs Group from $209.00 to $230.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other research firms also recently weighed in on ALL. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Barclays increased their price objective on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets upped their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $214.19.

Allstate Price Performance

Shares of NYSE:ALL traded up $1.10 during trading on Friday, hitting $196.88. 1,397,470 shares of the company were exchanged, compared to its average volume of 1,542,382. The business’s 50 day moving average is $190.01 and its 200-day moving average is $176.72. The company has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. 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 has a 1-year low of $131.65 and a 1-year high of $201.00.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (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 the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. Equities analysts forecast that Allstate will post 16.07 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.87%. Allstate’s dividend payout ratio (DPR) is 23.83%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The trade was a 77.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,049 shares of company stock worth $26,106,112 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Large investors have recently modified their holdings of the stock. FSA Wealth Management LLC purchased a new position in Allstate in the 3rd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the 3rd quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in Allstate in the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.