Allstate (NYSE:ALL) Price Target Raised to $205.00 at BMO Capital Markets

Allstate (NYSE:ALL) had its price objective hoisted by BMO Capital Markets from $191.00 to $205.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company raised their price target on Allstate from $146.00 to $153.00 and gave the company an underweight rating in a report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $194.00 price objective on shares of Allstate in a report on Friday, July 5th. The Goldman Sachs Group lifted their price objective on Allstate from $197.00 to $199.00 and gave the stock a buy rating in a report on Friday, July 19th. Morgan Stanley lowered their price target on Allstate from $205.00 to $200.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Finally, Evercore ISI upped their target price on Allstate from $166.00 to $173.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $184.06.

Allstate Stock Up 0.5 %

Shares of ALL traded up $0.77 during mid-day trading on Monday, reaching $169.79. The company’s stock had a trading volume of 2,326,718 shares, compared to its average volume of 1,580,073. The company’s 50 day moving average is $164.76 and its 200 day moving average is $164.45. The stock has a market cap of $44.83 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a 12-month low of $104.29 and a 12-month high of $180.87.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned ($4.42) EPS. Equities analysts anticipate that Allstate will post 13.64 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Buying and Selling

In other news, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its position in shares of Allstate by 2.6% in the 4th quarter. Allworth Financial LP now owns 11,368 shares of the insurance provider’s stock valued at $1,591,000 after purchasing an additional 290 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Allstate by 10.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 4,556 shares of the insurance provider’s stock worth $638,000 after purchasing an additional 441 shares during the period. Tritonpoint Wealth LLC purchased a new position in shares of Allstate during the 4th quarter valued at approximately $289,000. 180 Wealth Advisors LLC purchased a new position in shares of Allstate during the 4th quarter valued at approximately $202,000. Finally, Meeder Advisory Services Inc. lifted its holdings in Allstate by 31.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,085 shares of the insurance provider’s stock valued at $572,000 after purchasing an additional 969 shares in the last quarter. 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.