Allstate (NYSE:ALL) Price Target Raised to $188.00

Allstate (NYSE:ALL) had its price target boosted by Barclays from $172.00 to $188.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

A number of other equities research analysts have also issued reports on the company. Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Raymond James Financial reissued a “strong-buy” rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Morgan Stanley increased their price target on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. William Blair assumed coverage on Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $227.07.

Allstate Stock Performance

NYSE ALL opened at $194.16 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $201.16 and its two-hundred day moving average is $196.67. Allstate has a 12-month low of $158.04 and a 12-month high of $213.18. The stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.13 EPS. Research analysts expect that Allstate will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. Allstate’s dividend payout ratio is presently 27.32%.

Hedge Funds Weigh In On Allstate

Hedge funds have recently bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in Allstate in the fourth quarter worth about $25,000. Arlington Trust Co LLC grew its stake in Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Twin Tree Management LP acquired a new position in Allstate in the fourth quarter worth about $27,000. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter worth about $28,000. Finally, Hopwood Financial Services Inc. acquired a new position in Allstate in the fourth quarter worth about $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.