Allstate (NYSE:ALL) Price Target Raised to $173.00 at Evercore ISI

Allstate (NYSE:ALL) had its target price raised by Evercore ISI from $166.00 to $173.00 in a report released on Thursday, Benzinga reports. They currently have an in-line rating on the insurance provider’s stock.

A number of other analysts have also recently commented on the company. UBS Group lifted their price objective on Allstate from $171.00 to $185.00 and gave the stock a buy rating in a research report on Monday, February 12th. Piper Sandler boosted their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an overweight rating in a research report on Monday, April 1st. Wells Fargo & Company upped their price objective on shares of Allstate from $112.00 to $145.00 and gave the company an underweight rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $172.00 to $185.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Finally, TheStreet raised Allstate from a c+ rating to a b rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $172.59.

Allstate Trading Up 0.7 %

Shares of ALL stock opened at $166.81 on Thursday. The stock has a market cap of $43.88 billion, a P/E ratio of -134.52, a P/E/G ratio of 0.41 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $174.57. The business has a fifty day simple moving average of $163.04 and a 200-day simple moving average of $145.35.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter in the prior year, the firm earned ($1.36) earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts forecast that Allstate will post 13.41 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’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 sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the firm’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 value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was 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 directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Institutional investors have recently modified their holdings of the company. Ellsworth Advisors LLC bought a new position in shares of Allstate in the fourth quarter worth $4,312,000. SteelPeak Wealth LLC grew its position in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 9,984 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after buying an additional 275,319 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Allstate by 214.6% during the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after buying an additional 1,071 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Allstate by 88.7% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after buying an additional 11,512 shares in the last quarter. 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.