JPMorgan Chase & Co. Boosts Allstate (NYSE:ALL) Price Target to $207.00

Allstate (NYSE:ALL) had its target price increased by JPMorgan Chase & Co. from $205.00 to $207.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other research firms also recently commented on ALL. Evercore ISI upped their price objective on Allstate from $191.00 to $195.00 and gave the company an in-line rating in a research note on Wednesday. Roth Mkm reiterated a buy rating and issued a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. Barclays started coverage on Allstate in a research note on Wednesday, September 4th. They issued an underweight rating and a $175.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Allstate from $199.00 to $204.00 and gave the company a buy rating in a research note on Thursday, August 15th. Finally, Bank of America dropped their price objective on Allstate from $226.00 to $216.00 and set a buy rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $199.24.

Allstate Price Performance

Shares of NYSE ALL opened at $188.28 on Thursday. Allstate has a twelve month low of $113.04 and a twelve month high of $193.97. The stock’s 50 day moving average price is $184.27 and its 200-day moving average price is $173.04. The company has a market capitalization of $49.69 billion, a PE ratio of 41.56, a PEG ratio of 1.74 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share 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 firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the previous year, the business earned ($4.42) EPS. The company’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Allstate will post 15.19 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were issued a $0.92 dividend. The ex-dividend date was Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. Allstate’s payout ratio is currently 81.24%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 238,305 shares of company stock valued at $43,082,657. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after acquiring an additional 47,038 shares in the last quarter. Hsbc Holdings PLC boosted its position in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after buying an additional 31,789 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Allstate by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after buying an additional 8,454 shares during the period. AQR Capital Management LLC boosted its position in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after buying an additional 464,337 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Allstate by 11.8% during the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after buying an additional 75,698 shares during the period. 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.