Keefe, Bruyette & Woods Raises Allstate (NYSE:ALL) Price Target to $208.00

Allstate (NYSE:ALL) had its target price lifted by Keefe, Bruyette & Woods from $199.00 to $208.00 in a report released on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

ALL has been the topic of a number of other reports. Bank of America lifted their price target on shares of Allstate from $213.00 to $226.00 and gave the company a buy rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded Allstate from an underweight rating to an equal weight rating and boosted their target price for the stock from $142.00 to $177.00 in a research report on Monday. JPMorgan Chase & Co. raised their price target on Allstate from $193.00 to $200.00 and gave the company an overweight rating in a report on Thursday, July 11th. Morgan Stanley decreased their price objective on Allstate from $205.00 to $200.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Finally, StockNews.com cut shares of Allstate from a strong-buy rating to a buy rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $191.25.

Allstate Trading Up 5.2 %

Shares of ALL stock opened at $180.95 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 52-week low of $104.29 and a 52-week high of $181.34. The stock has a fifty day simple moving average of $165.86 and a two-hundred day simple moving average of $165.17. The firm has a market capitalization of $47.76 billion, a PE ratio of 39.94, a PEG ratio of 1.86 and a beta of 0.48.

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

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.03%. Allstate’s dividend payout ratio (DPR) is 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALL. Bank of New York Mellon Corp lifted its holdings in Allstate by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock worth $884,508,000 after buying an additional 90,390 shares during the period. Norges Bank purchased a new position in Allstate in the fourth quarter worth $212,771,000. Dimensional Fund Advisors LP increased its position in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after purchasing an additional 31,789 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Allstate by 1.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after purchasing an additional 8,454 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Company Profile

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.