Allstate (NYSE:ALL) Price Target Raised to $282.00 at JPMorgan Chase & Co.

Allstate (NYSE:ALL) had its price objective raised by JPMorgan Chase & Co. from $263.00 to $282.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

ALL has been the subject of a number of other research reports. Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Raymond James Financial increased their price objective on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.58.

Allstate Trading Down 2.4%

Shares of ALL stock opened at $250.19 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 1 year low of $188.08 and a 1 year high of $257.67. The stock has a fifty day moving average of $225.57 and a two-hundred day moving average of $213.66. The firm has a market capitalization of $64.41 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the business posted $3.53 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Allstate will post 29.99 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is presently 9.53%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allstate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter valued at $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter worth $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter worth $27,000. Evolution Wealth Management Inc. grew its holdings 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 buying an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in shares of Allstate during the second quarter valued at $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

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.