Allstate (NYSE:ALL) Price Target Raised to $282.00

Allstate (NYSE:ALL) had its price objective hoisted by JPMorgan Chase & Co. from $263.00 to $282.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on ALL. Wells Fargo & Company upped their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays boosted their price target on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 7th. Raymond James Financial increased their price objective on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a report on Monday, July 6th. Finally, HSBC lowered Allstate from a “buy” rating to a “hold” rating and raised their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $253.05.

Allstate Stock Performance

NYSE:ALL opened at $241.19 on Tuesday. The stock has a 50-day moving average price of $226.55 and a 200 day moving average price of $214.11. The stock has a market capitalization of $62.09 billion, a P/E ratio of 5.32, a P/E/G ratio of 0.42 and a beta of 0.16. Allstate has a 12-month low of $188.08 and a 12-month high of $257.67. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the company posted $3.53 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Allstate will post 29.99 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is currently 9.53%.

Insider Activity at Allstate

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last 90 days. 1.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allied Private Wealth LLC purchased a new stake in Allstate during the second quarter valued at approximately $29,000. MV Capital Management Inc. purchased a new position in shares of Allstate in the 4th quarter worth approximately $25,000. Navalign LLC purchased a new position in shares of Allstate in the 4th quarter worth approximately $27,000. Dorato Capital Management bought a new position in shares of Allstate during the 4th quarter valued at approximately $27,000. Finally, Evolution Wealth Management Inc. increased its position in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

About Allstate

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.