Allstate (NYSE:ALL) Price Target Increased to $190.00 by Analysts at Morgan Stanley

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

ALL has been the subject of a number of other reports. Jefferies Financial Group raised Allstate from a hold rating to a buy rating and lifted their target price for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods lifted their target price on Allstate from $181.00 to $189.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. TD Cowen initiated coverage on Allstate in a research report on Wednesday, January 10th. They set an outperform rating and a $193.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Allstate from $172.00 to $185.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, HSBC upgraded Allstate from a hold rating to a buy rating and lifted their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $173.71.

Allstate Price Performance

Shares of ALL stock opened at $165.76 on Monday. Allstate has a 52-week low of $100.57 and a 52-week high of $174.57. 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 firm has a market capitalization of $43.61 billion, a P/E ratio of -133.68, a P/E/G ratio of 0.41 and a beta of 0.52. The stock has a 50 day moving average price of $163.22 and a 200 day moving average price of $145.95.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. Allstate’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.36) EPS. As a group, sell-side analysts predict that Allstate will post 13.41 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.22%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is -296.77%.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s 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 transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated 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 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. 1.80% of the stock is owned by company insiders.

Institutional Trading of Allstate

Several large investors have recently added to or reduced their stakes in ALL. Sei Investments Co. grew its stake in Allstate by 40.2% during the 1st quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock valued at $26,022,000 after purchasing an additional 53,824 shares during the last quarter. Prudential PLC acquired a new position in shares of Allstate in the 1st quarter valued at about $1,325,000. Cetera Investment Advisers lifted its holdings in shares of Allstate by 13.9% in the 1st quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock valued at $3,260,000 after buying an additional 2,874 shares during the period. Dakota Wealth Management acquired a new position in shares of Allstate in the 1st quarter valued at about $270,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Allstate by 36.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock valued at $448,000 after buying an additional 860 shares during the period. Hedge funds and other 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.