JPMorgan Chase & Co. Raises Allstate (NYSE:ALL) Price Target to $193.00

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

A number of other brokerages have also weighed in on ALL. Raymond James raised their price target on shares of Allstate from $155.00 to $180.00 and gave the company a strong-buy rating in a report on Monday, January 22nd. The Goldman Sachs Group upped their price target on Allstate from $164.00 to $195.00 and gave the company a buy rating in a research note on Monday, March 25th. BMO Capital Markets lifted their price objective on Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research report on Friday, January 19th. UBS Group upped their target price on shares of Allstate from $171.00 to $185.00 and gave the company a buy rating in a research report on Monday, February 12th. Finally, TD Cowen assumed coverage on shares of Allstate in a research note on Wednesday, January 10th. They set an outperform rating and a $193.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $174.18.

Allstate Trading Down 0.6 %

Shares of ALL opened at $168.18 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.37 and a current ratio of 0.36. The company has a market cap of $44.39 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.40 and a beta of 0.51. The stock has a fifty day moving average price of $166.06 and a two-hundred day moving average price of $150.95. Allstate has a 52-week low of $100.57 and a 52-week high of $177.37.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $12.76 billion. During the same period last year, the company posted ($1.30) earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that Allstate will post 14.04 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. Allstate’s payout ratio is currently 81.24%.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated 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 sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Institutional Trading of Allstate

A number of institutional investors have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Allstate during the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Allstate during the first quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in Allstate during the fourth quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in Allstate in the first quarter valued at approximately $26,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $26,000. 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.