Morgan Stanley Raises Allstate (NYSE:ALL) Price Target to $190.00

Allstate (NYSE:ALL) had its price objective hoisted by Morgan Stanley from $187.00 to $190.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research firms also recently issued reports on ALL. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an outperform rating in a report on Wednesday, April 10th. TD Cowen started coverage on shares of Allstate in a report on Wednesday, January 10th. They set an outperform rating and a $193.00 price objective on the stock. Jefferies Financial Group raised shares of Allstate from a hold rating to a buy rating and increased their price objective for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Evercore ISI increased their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an in-line rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Allstate from $172.00 to $185.00 and gave the company an overweight rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $173.71.

Allstate Stock Performance

Shares of NYSE ALL opened at $162.92 on Monday. The company’s fifty day moving average price is $163.44 and its 200 day moving average price is $146.44. Allstate has a 1 year low of $100.57 and a 1 year high of $174.57. The company has a market capitalization of $42.86 billion, a PE ratio of -131.39, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

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, topping 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 for the quarter, compared to the consensus estimate of $12.69 billion. During the same period in the prior year, the firm posted ($1.36) earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Allstate will post 13.41 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 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 2.26%. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

Insider Buying and Selling at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were 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 SEC, which is available through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were 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 SEC, which is available through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated 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 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 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ellsworth Advisors LLC purchased a new position in shares of Allstate in the fourth quarter valued at approximately $4,312,000. SteelPeak Wealth LLC boosted its stake in shares of Allstate by 175.2% in the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after purchasing an additional 9,984 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Allstate by 484.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after purchasing an additional 275,319 shares during the period. Meeder Asset Management Inc. lifted its stake in Allstate by 214.6% in the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock worth $220,000 after acquiring an additional 1,071 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Allstate by 88.7% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after acquiring an additional 11,512 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.