Allstate (NYSE:ALL) Price Target Increased to $190.00 by Analysts at Morgan Stanley

Allstate (NYSE:ALL) had its target price boosted by Morgan Stanley from $187.00 to $190.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other equities research analysts also recently weighed in on the company. TD Cowen assumed coverage on Allstate in a research report on Wednesday, January 10th. They set an outperform rating and a $193.00 price target on the stock. Raymond James increased their price target on Allstate from $155.00 to $180.00 and gave the stock a strong-buy rating in a research report on Monday, January 22nd. BMO Capital Markets increased their price target on Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research report on Friday, January 19th. Wells Fargo & Company increased their price target on Allstate from $145.00 to $146.00 and gave the stock an underweight rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $172.00 to $185.00 and gave the stock an overweight rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $173.71.

Allstate Price Performance

NYSE ALL opened at $165.76 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s fifty day moving average price is $163.22 and its 200 day moving average price is $145.95. Allstate has a 1 year low of $100.57 and a 1 year high of $174.57. The company has a market cap of $43.61 billion, a price-to-earnings ratio of -133.68, a PEG ratio of 0.41 and a beta of 0.52.

Allstate (NYSE:ALL) last released its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $12.69 billion. During the same period in the prior year, the firm earned ($1.36) EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Allstate will post 13.41 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.22%. Allstate’s payout ratio is -296.77%.

Insider Transactions at Allstate

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

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently made changes to their positions in the business. Gradient Investments LLC raised its stake in shares of Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after acquiring an additional 66 shares during the period. Brighton Jones LLC increased its stake in Allstate by 1.9% during the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares during the period. SVB Wealth LLC increased its stake in Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after buying an additional 72 shares during the period. Apollon Wealth Management LLC increased its stake in Allstate by 2.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock worth $436,000 after buying an additional 78 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

About Allstate

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.