Allstate (NYSE:ALL) Price Target Raised to $272.00 at Mizuho

Allstate (NYSE:ALL) had its price objective increased by Mizuho from $255.00 to $272.00 in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have an outperform rating on the insurance provider’s stock.

ALL has been the topic of several other reports. Barclays increased their price objective on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a report on Tuesday. Raymond James Financial boosted their target price on shares of Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Monday. Citigroup increased their price objective on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. HSBC downgraded shares of Allstate from a “buy” rating to a “hold” rating and boosted their price objective for the company from $244.00 to $264.00 in a research report on Monday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.47.

Allstate Stock Performance

NYSE:ALL opened at $248.23 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $63.90 billion, a P/E ratio of 5.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. Allstate has a twelve month low of $188.08 and a twelve month high of $257.67. The firm has a 50-day moving average price of $223.37 and a two-hundred day moving average price of $212.74.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.53 EPS. As a group, research analysts expect that Allstate will post 29.8 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Activity at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MV Capital Management Inc. acquired a new stake in shares of Allstate during the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in Allstate during the 4th quarter valued at $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter valued at $27,000. Evolution Wealth Management Inc. grew its stake in shares of Allstate by 7,000.0% during the first 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. Finally, Allied Private Wealth LLC bought a new stake in shares of Allstate during the second quarter worth $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised Allstate’s price target to $272 and kept an outperform rating, signaling confidence in further upside. Mizuho raises Allstate PT
• Positive Sentiment: Keefe, Bruyette & Woods also lifted its target to $255, suggesting analysts still see value in the stock. KBW raises Allstate PT
• Positive Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing capital return to shareholders. Allstate dividend announcement
• Neutral Sentiment: Several commentary pieces argue Allstate may look undervalued after earnings and that a relatively quiet catastrophe year could support results, but these are more interpretive than new hard catalysts. Allstate looks undervalued article
• Negative Sentiment: Oklahoma’s lawsuit alleging Allstate underpaid or defrauded customers on storm and damage claims is the biggest concern, raising the risk of legal costs, penalties, and reputational damage. Oklahoma lawsuit against Allstate
• Negative Sentiment: Additional headlines about the state’s claims-practice investigation and accusations of fraud keep the legal overhang front and center for traders. Drummond sues Allstate

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.