Allstate (NYSE:ALL – Free Report) had its target price increased by UBS Group from $171.00 to $185.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.
Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group boosted their price target on shares of Allstate from $141.00 to $164.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Jefferies Financial Group raised shares of Allstate from a hold rating to a buy rating and boosted their price target for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. Roth Mkm boosted their price target on shares of Allstate from $145.00 to $160.00 and gave the company a buy rating in a research report on Friday, November 3rd. TheStreet raised shares of Allstate from a c+ rating to a b rating in a report on Wednesday, February 7th. Finally, HSBC started coverage on shares of Allstate in a report on Thursday, December 28th. They issued a hold rating and a $145.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $157.75.
Allstate Stock Performance
Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. During the same period in the previous year, the company earned ($1.36) earnings per share. Allstate’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that Allstate will post 12.7 earnings per share for the current fiscal year.
Allstate Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 2.23%. Allstate’s payout ratio is currently -287.10%.
Insiders Place Their Bets
In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $134.79, for a total transaction of $539,160.00. Following the transaction, the chief accounting officer now directly owns 13,711 shares in the company, valued at $1,848,105.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Mark Q. Prindiville sold 10,951 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 18,677 shares in the company, valued at $2,529,426.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred 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 owns 13,711 shares in the company, valued at $1,848,105.69. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Institutional Trading of Allstate
Several large investors have recently modified their holdings of the business. Gradient Investments LLC grew its position in shares of Allstate by 1.6% in the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after purchasing an additional 66 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Allstate by 1.9% during the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after buying an additional 71 shares during the period. SVB Wealth LLC lifted its stake in shares of Allstate by 1.2% during the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after buying an additional 72 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Allstate by 2.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock valued at $436,000 after buying an additional 78 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of Allstate by 1.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after buying an additional 82 shares during the period. 77.23% of the stock is currently owned by institutional investors and hedge funds.
Allstate Company Profile
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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