Allstate (NYSE:ALL) Price Target Increased to $193.00 by Analysts at JPMorgan Chase & Co.

Allstate (NYSE:ALL) had its price objective upped by JPMorgan Chase & Co. from $185.00 to $193.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

ALL has been the subject of several other research reports. Jefferies Financial Group upgraded Allstate from a hold rating to a buy rating and increased their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. UBS Group raised their price objective on shares of Allstate from $171.00 to $185.00 and gave the company a buy rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $181.00 to $189.00 and gave the company an outperform rating in a report on Wednesday, April 10th. HSBC raised Allstate from a hold rating to a buy rating and boosted their price target for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. Finally, Raymond James raised their price objective on Allstate from $155.00 to $180.00 and gave the company a strong-buy rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $174.18.

Allstate Stock Down 0.6 %

Shares of Allstate stock opened at $168.18 on Thursday. The company has a market cap of $44.39 billion, a P/E ratio of 37.13, a PEG ratio of 0.39 and a beta of 0.51. The firm has a fifty day moving average of $166.06 and a two-hundred day moving average of $151.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.37 and a current ratio of 0.36. Allstate has a one year low of $100.57 and a one year high of $177.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the company posted ($1.30) earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts forecast that Allstate will post 14.57 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 paid a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.19%. Allstate’s payout ratio is presently 81.24%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated 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 directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 31,000 shares of the company’s 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 transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Allstate by 1.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 47,248 shares of the insurance provider’s stock worth $5,264,000 after buying an additional 466 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in shares of Allstate in the 3rd quarter valued at about $164,000. Xponance Inc. grew its holdings in shares of Allstate by 3.2% during the 3rd quarter. Xponance Inc. now owns 36,130 shares of the insurance provider’s stock worth $4,025,000 after purchasing an additional 1,125 shares during the period. Pinnacle Associates Ltd. acquired a new stake in Allstate during the 3rd quarter worth approximately $209,000. Finally, Stratos Wealth Partners LTD. raised its holdings in Allstate by 21.6% in the third quarter. Stratos Wealth Partners LTD. now owns 9,032 shares of the insurance provider’s stock valued at $1,006,000 after buying an additional 1,607 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.