Allstate (NYSE:ALL) had its price target boosted by UBS Group from $110.00 to $112.00 in a research note published on Wednesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the insurance provider’s stock.
Several other equities research analysts also recently weighed in on the company. Buckingham Research increased their price target on Allstate from $100.00 to $104.00 and gave the stock a neutral rating in a report on Thursday, September 12th. ValuEngine downgraded Allstate from a hold rating to a sell rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on Allstate from $108.00 to $110.00 and gave the stock an equal weight rating in a report on Thursday, August 15th. Credit Suisse Group downgraded Allstate from a neutral rating to an underperform rating and reduced their price target for the stock from $100.00 to $94.00 in a report on Thursday, July 11th. Finally, Barclays set a $125.00 price target on Allstate and gave the stock a buy rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Allstate has a consensus rating of Hold and a consensus price target of $108.38.
Allstate stock traded up $1.08 during mid-day trading on Wednesday, reaching $107.65. 33,179 shares of the stock traded hands, compared to its average volume of 1,734,686. The stock has a market capitalization of $35.37 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.28 and a quick ratio of 0.28. Allstate has a 12-month low of $77.00 and a 12-month high of $109.55. The business’s 50-day moving average is $105.63 and its 200-day moving average is $100.98.
Allstate (NYSE:ALL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.70. Allstate had a return on equity of 12.66% and a net margin of 6.52%. The company had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. Allstate’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Allstate will post 9.53 EPS for the current fiscal year.
The company 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 $0.50 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.00 annualized dividend and a yield of 1.86%. Allstate’s payout ratio is currently 24.78%.
In other Allstate news, Vice Chairman Steven E. Shebik sold 26,446 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $103.56, for a total transaction of $2,738,747.76. Following the transaction, the insider now directly owns 153,154 shares in the company, valued at approximately $15,860,628.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jesse E. Merten sold 900 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $102.27, for a total value of $92,043.00. Following the transaction, the executive vice president now owns 4,869 shares in the company, valued at $497,952.63. The disclosure for this sale can be found here. Insiders have sold a total of 99,783 shares of company stock worth $10,472,581 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Community Bank N.A. boosted its position in shares of Allstate by 21.7% in the 2nd quarter. Community Bank N.A. now owns 560 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 100 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Allstate by 15.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 800 shares of the insurance provider’s stock worth $81,000 after purchasing an additional 106 shares in the last quarter. Wade G W & Inc. boosted its position in shares of Allstate by 3.8% in the 2nd quarter. Wade G W & Inc. now owns 3,046 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 112 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of Allstate by 1.1% in the 2nd quarter. Orrstown Financial Services Inc. now owns 10,417 shares of the insurance provider’s stock worth $1,059,000 after purchasing an additional 116 shares in the last quarter. Finally, SlateStone Wealth LLC boosted its position in shares of Allstate by 1.2% in the 2nd quarter. SlateStone Wealth LLC now owns 10,185 shares of the insurance provider’s stock worth $1,036,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 76.81% of the company’s stock.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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