Allstate (NYSE:ALL) Price Target Increased to $188.00 by Analysts at Piper Sandler

Allstate (NYSE:ALLFree Report) had its price objective raised by Piper Sandler from $172.00 to $188.00 in a report published on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

A number of other equities research analysts also recently commented on the company. Morgan Stanley raised Allstate from an equal weight rating to an overweight rating and lifted their target price for the stock from $117.00 to $171.00 in a report on Thursday, January 4th. HSBC raised Allstate from a hold rating to a buy rating and lifted their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. TD Cowen started coverage on Allstate in a report on Wednesday, January 10th. They set an outperform rating and a $193.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Allstate from $171.00 to $181.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. lifted their target price on Allstate from $164.00 to $172.00 and gave the stock an overweight rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $168.69.

Read Our Latest Report on ALL

Allstate Price Performance

Shares of NYSE ALL opened at $172.57 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $45.40 billion, a PE ratio of -139.17, a P/E/G ratio of 0.45 and a beta of 0.52. The business has a 50-day simple moving average of $160.24 and a two-hundred day simple moving average of $141.51. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $173.50.

Allstate (NYSE:ALLGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping 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 company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned ($1.36) earnings per share. As a group, equities analysts expect that Allstate will post 13.25 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.13%. Allstate’s payout ratio is -296.77%.

Insider Activity

In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Allstate

Several large investors have recently added to or reduced their stakes in ALL. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate in the 3rd quarter valued at $25,000. Private Wealth Management Group LLC purchased a new stake in Allstate in the 4th quarter valued at $25,000. First Capital Advisors Group LLC. purchased a new stake in Allstate in the 2nd quarter valued at $29,000. Cowa LLC acquired a new position in shares of Allstate in the 1st quarter valued at $30,000. Finally, Garner Asset Management Corp acquired a new position in shares of Allstate in the 4th quarter valued at $31,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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Analyst Recommendations for Allstate (NYSE:ALL)

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