Allstate (NYSE:ALL) Price Target Raised to $146.00 at Wells Fargo & Company

Allstate (NYSE:ALLFree Report) had its price objective boosted by Wells Fargo & Company from $145.00 to $146.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the insurance provider’s stock.

Several other research analysts have also issued reports on the company. HSBC raised Allstate from a hold rating to a buy rating and increased their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Raymond James increased their target price on Allstate from $155.00 to $180.00 and gave the stock a strong-buy rating in a research report on Monday, January 22nd. Morgan Stanley raised Allstate from an equal weight rating to an overweight rating and increased their target price for the stock from $117.00 to $171.00 in a research report on Thursday, January 4th. The Goldman Sachs Group increased their target price on Allstate from $164.00 to $195.00 and gave the stock a buy rating in a research report on Monday, March 25th. Finally, BMO Capital Markets upped their price target on Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research note on Friday, January 19th. One research 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 stock. According to data from MarketBeat.com, Allstate has a consensus rating of Moderate Buy and a consensus target price of $172.59.

Read Our Latest Stock Report on Allstate

Allstate Trading Down 2.4 %

ALL opened at $165.61 on Thursday. The business has a 50 day simple moving average of $162.85 and a two-hundred day simple moving average of $144.77. The firm has a market capitalization of $43.57 billion, a price-to-earnings ratio of -133.56, a PEG ratio of 0.43 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. Allstate has a one year low of $100.57 and a one year high of $174.57.

Allstate (NYSE:ALLGet Free Report) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same quarter in the prior year, the company earned ($1.36) EPS. The business’s revenue was up 8.7% compared to the same quarter last year. Analysts predict that Allstate will post 13.3 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 dividend payout ratio (DPR) is currently -296.77%.

Insider Buying and Selling at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the 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 sale, 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 accessible through the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the 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 sale, 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 accessible through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was 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 in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Allstate in the 1st quarter worth $26,000. Private Wealth Management Group LLC purchased a new position in shares of Allstate in the 4th quarter worth $25,000. Garner Asset Management Corp purchased a new position in shares of Allstate in the 4th quarter worth $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Allstate in the 3rd quarter worth $25,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Allstate in the 4th quarter worth $36,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Allstate (NYSE:ALL)

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