Allstate (NYSE:ALL) Price Target Increased to $145.00 by Analysts at Wells Fargo & Company

Allstate (NYSE:ALLFree Report) had its target price upped by Wells Fargo & Company from $112.00 to $145.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group upped their price target on Allstate from $141.00 to $164.00 and gave the stock a buy rating in a report on Tuesday, January 9th. HSBC initiated coverage on Allstate in a research note on Thursday, December 28th. They set a hold rating and a $145.00 target price for the company. BMO Capital Markets lifted their price target on Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lifted their target price on Allstate from $164.00 to $172.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Finally, Piper Sandler lifted their price target on Allstate from $137.00 to $138.00 and gave the company an overweight rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $157.75.

Get Our Latest Stock Analysis on Allstate

Allstate Stock Down 0.4 %

Allstate stock opened at $159.32 on Friday. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $168.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.35 and a current ratio of 0.38. The company has a market capitalization of $41.69 billion, a P/E ratio of -128.48, a PEG ratio of 0.43 and a beta of 0.52. The stock has a 50-day simple moving average of $148.13 and a 200-day simple moving average of $128.77.

Allstate (NYSE:ALLGet Free Report) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating the consensus estimate of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.36) EPS. Equities research analysts expect that Allstate will post 12.7 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were given a $0.89 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 2.23%. Allstate’s dividend payout ratio (DPR) is -287.10%.

Insiders Place Their Bets

In other news, EVP Mark Q. Prindiville sold 10,951 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total transaction of $1,483,093.93. Following the transaction, the executive vice president now directly owns 18,677 shares in the company, valued at approximately $2,529,426.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Mark Q. Prindiville sold 10,951 shares of Allstate stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total value of $1,483,093.93. Following the completion of the sale, the executive vice president now owns 18,677 shares of the company’s stock, valued at approximately $2,529,426.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Monday, November 20th. The shares were sold at an average price of $134.79, for a total transaction of $539,160.00. Following the completion of the sale, the chief accounting officer now directly owns 13,711 shares of the company’s stock, valued at approximately $1,848,105.69. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S grew its stake in Allstate by 8.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,748 shares of the insurance provider’s stock worth $627,000 after buying an additional 460 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Allstate by 36.5% in the second quarter. First Horizon Advisors Inc. now owns 63,018 shares of the insurance provider’s stock valued at $6,872,000 after acquiring an additional 16,851 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Allstate during the second quarter worth $5,104,000. Markel Group Inc. boosted its position in shares of Allstate by 10.1% during the third quarter. Markel Group Inc. now owns 141,550 shares of the insurance provider’s stock worth $15,770,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in Allstate by 63.1% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 3,273 shares of the insurance provider’s stock valued at $357,000 after acquiring an additional 1,266 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

About Allstate

(Get Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

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