Wells Fargo & Company Raises Allstate (NYSE:ALL) Price Target to $146.00

Allstate (NYSE:ALL) had its price target hoisted by Wells Fargo & Company from $145.00 to $146.00 in a report issued on Thursday, Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

A number of other research firms also recently commented on ALL. HSBC upgraded shares of Allstate from a hold rating to a buy rating and increased their price objective for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their price target on Allstate from $172.00 to $185.00 and gave the stock an overweight rating in a research note on Monday, April 8th. BMO Capital Markets upped their price objective on Allstate from $140.00 to $158.00 and gave the company a market perform rating in a research note on Friday, January 19th. Raymond James increased their target price on Allstate from $155.00 to $180.00 and gave the stock a strong-buy rating in a report on Monday, January 22nd. Finally, Morgan Stanley raised Allstate from an equal weight rating to an overweight rating and upped their price target for the company from $117.00 to $171.00 in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $172.59.

Allstate Trading Up 0.7 %

Shares of ALL opened at $166.81 on Thursday. Allstate has a twelve month low of $100.57 and a twelve month high of $174.57. The firm has a market capitalization of $43.88 billion, a P/E ratio of -134.52, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $163.04 and its 200 day simple moving average is $145.35.

Allstate (NYSE:ALL) last issued its 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 company 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 revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.36) earnings per share. On average, equities research analysts forecast that Allstate will post 13.41 earnings per share for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.92 per share. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.21%. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insiders Place Their Bets

In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were 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 owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several institutional investors have recently bought and sold shares of ALL. Vanguard Group Inc. lifted its holdings in Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Allstate by 123.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after acquiring an additional 3,064,105 shares during the period. Cowa LLC bought a new position in Allstate in the first quarter valued at about $30,000. Norges Bank bought a new position in Allstate in the fourth quarter valued at about $212,771,000. Finally, Invesco Ltd. increased its position in Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares during the period. 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.