Allstate (NYSE:ALL) Price Target Raised to $199.00 at The Goldman Sachs Group

Allstate (NYSE:ALL) had its price target boosted by The Goldman Sachs Group from $197.00 to $199.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other brokerages have also recently commented on ALL. StockNews.com cut Allstate from a strong-buy rating to a buy rating in a research report on Monday, June 3rd. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets upgraded Allstate from a market perform rating to an outperform rating and increased their price objective for the stock from $190.00 to $191.00 in a research note on Thursday, July 18th. Piper Sandler increased their price objective on Allstate from $172.00 to $188.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Finally, HSBC upgraded Allstate from a hold rating to a buy rating and raised their target price for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate has an average rating of Moderate Buy and an average price target of $178.06.

Allstate Stock Up 0.3 %

ALL opened at $174.84 on Friday. Allstate has a 1-year low of $104.29 and a 1-year high of $179.93. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $46.14 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 1.99 and a beta of 0.48. The business has a 50 day moving average of $163.81 and a 200-day moving average of $162.99.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the business earned ($1.30) earnings per share. Allstate’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allstate will post 12.72 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Institutional investors have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Allstate in the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate during the 4th quarter worth approximately $25,000. Finally, Versant Capital Management Inc increased its holdings in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. 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.