Allstate (NYSE:ALL) Price Target Raised to $281.00 at Mizuho

Allstate (NYSE:ALL) had its price target boosted by Mizuho from $255.00 to $281.00 in a research note released on Monday morning, Marketbeat Ratings reports. Mizuho currently has an outperform rating on the insurance provider’s stock.

Several other research analysts have also recently commented on ALL. JPMorgan Chase & Co. raised their target price on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. William Blair lowered shares of Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 target price (down previously from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Finally, Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.13.

Allstate Stock Down 3.7%

NYSE ALL opened at $199.91 on Monday. Allstate has a twelve month low of $176.00 and a twelve month high of $216.75. The stock has a market cap of $52.31 billion, a PE ratio of 5.23, a PEG ratio of 0.45 and a beta of 0.24. The firm has a 50-day simple moving average of $203.68 and a 200 day simple moving average of $203.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the firm posted $7.67 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast that Allstate will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is presently 10.47%.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. This represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Navalign LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $27,000. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares during the last quarter. Dorato Capital Management acquired a new position in Allstate in the fourth quarter valued at approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in Allstate in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.