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

Allstate (NYSE:ALL) had its price target raised by JPMorgan Chase & Co. from $185.00 to $193.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the stock. TD Cowen began coverage on shares of Allstate in a research report on Wednesday, January 10th. They issued an outperform rating and a $193.00 price target on the stock. HSBC upgraded Allstate from a hold rating to a buy rating and increased their price target for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. UBS Group boosted their price objective on Allstate from $171.00 to $185.00 and gave the company a buy rating in a research note on Monday, February 12th. Morgan Stanley raised their target price on Allstate from $187.00 to $190.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Finally, Evercore ISI boosted their price target on Allstate from $166.00 to $173.00 and gave the company an in-line rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $174.18.

Allstate Stock Performance

NYSE ALL opened at $168.18 on Thursday. The company has a market capitalization of $44.39 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.40 and a beta of 0.51. Allstate has a twelve month low of $100.57 and a twelve month high of $177.37. The stock has a fifty day simple moving average of $166.06 and a 200 day simple moving average of $150.95. The company has a quick ratio of 0.37, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.30) earnings per share. Sell-side analysts expect that Allstate will post 14.04 EPS for the current year.

Allstate Increases Dividend

The business 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. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. Allstate’s payout ratio is presently 81.24%.

Insider Buying and Selling

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’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 is available through this hyperlink. In other Allstate news, 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 sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate 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 completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Allstate by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock valued at $660,318,000 after buying an additional 172,250 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Allstate by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock worth $884,508,000 after buying an additional 90,390 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Allstate by 23.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after acquiring an additional 782,696 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares in 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.