Citigroup Analysts Give Allstate (ALL) a $115.00 Price Target

Citigroup set a $115.00 price target on Allstate (NYSE:ALL) in a research report sent to investors on Friday morning. The brokerage currently has a buy rating on the insurance provider’s stock.

ALL has been the topic of several other reports. ValuEngine cut shares of Allstate from a hold rating to a sell rating in a report on Thursday, June 21st. Zacks Investment Research cut shares of Allstate from a buy rating to a hold rating in a report on Monday, September 24th. B. Riley raised their target price on shares of Allstate from $88.00 to $103.00 and gave the stock a neutral rating in a report on Tuesday, August 7th. Wells Fargo & Co reaffirmed a hold rating on shares of Allstate in a report on Thursday, August 16th. Finally, Buckingham Research raised shares of Allstate from an underperform rating to a neutral rating and set a $88.00 target price on the stock in a report on Wednesday, July 18th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $104.62.

Shares of ALL traded down $0.01 during mid-day trading on Friday, hitting $93.16. 1,858,848 shares of the company’s stock were exchanged, compared to its average volume of 2,073,803. Allstate has a 52 week low of $88.29 and a 52 week high of $105.36. The stock has a market capitalization of $34.17 billion, a PE ratio of 13.88, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.45. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same period last year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that Allstate will post 9.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, August 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.98%. Allstate’s dividend payout ratio is 27.42%.

In related news, insider Glenn T. Shapiro sold 21,728 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $98.70, for a total transaction of $2,144,553.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Susan L. Lees sold 22,189 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. Insiders have sold a total of 54,432 shares of company stock worth $5,386,208 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlantic Trust Group LLC increased its stake in Allstate by 1.1% in the first quarter. Atlantic Trust Group LLC now owns 51,832 shares of the insurance provider’s stock valued at $4,913,000 after purchasing an additional 541 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Allstate by 41.5% in the second quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock valued at $183,000 after purchasing an additional 545 shares in the last quarter. Townsend & Associates Inc increased its stake in Allstate by 8.5% in the second quarter. Townsend & Associates Inc now owns 7,144 shares of the insurance provider’s stock valued at $652,000 after purchasing an additional 558 shares in the last quarter. Catawba Capital Management VA increased its stake in Allstate by 1.5% in the second quarter. Catawba Capital Management VA now owns 39,271 shares of the insurance provider’s stock valued at $3,584,000 after purchasing an additional 566 shares in the last quarter. Finally, Atria Investments LLC increased its stake in Allstate by 24.3% in the third quarter. Atria Investments LLC now owns 2,938 shares of the insurance provider’s stock valued at $290,000 after purchasing an additional 574 shares in the last quarter. Institutional investors and hedge funds own 76.22% of the company’s stock.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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