Allstate (NYSE:ALL) Price Target Raised to $244.00 at Piper Sandler

Allstate (NYSE:ALL) had its price objective lifted by Piper Sandler from $206.00 to $244.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other equities analysts also recently issued reports on the company. Evercore ISI increased their price objective on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. BMO Capital Markets lifted their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price target on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Trading Up 2.9 %

NYSE:ALL opened at $207.80 on Tuesday. Allstate has a 12 month low of $134.17 and a 12 month high of $208.23. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $191.99 and a 200-day moving average price of $178.36. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the firm posted $0.81 EPS. The business’s revenue was up 14.7% on a year-over-year basis. Equities analysts predict that Allstate will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Allstate’s dividend payout ratio is presently 23.83%.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Trading of Allstate

Large investors have recently modified their holdings of the company. SPC Financial Inc. grew its stake in shares of Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares during the period. Lake Street Advisors Group LLC grew its position in Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after buying an additional 54 shares during the period. Abacus Planning Group Inc. grew its position in Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after buying an additional 56 shares during the period. Chicago Partners Investment Group LLC raised its position in Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares during the period. Finally, Carmichael Hill & Associates Inc. boosted its stake in shares of Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 60 shares during the last quarter. 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.