Allstate (NYSE:ALL) PT Raised to $193.00 at JPMorgan Chase & Co.

Allstate (NYSE:ALL) had its price objective lifted by JPMorgan Chase & Co. from $185.00 to $193.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other research analysts also recently commented on the stock. BMO Capital Markets lifted their price target on shares of Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research note on Friday, January 19th. Wells Fargo & Company boosted their price target on shares of Allstate from $145.00 to $146.00 and gave the stock an underweight rating in a research note on Thursday, April 11th. Raymond James raised their price objective on Allstate from $155.00 to $180.00 and gave the company a strong-buy rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods boosted their target price on Allstate from $181.00 to $189.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Finally, Evercore ISI raised their price target on Allstate from $166.00 to $173.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $174.18.

Allstate Stock Performance

Allstate stock opened at $168.18 on Thursday. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The firm’s fifty day moving average price is $166.06 and its 200-day moving average price is $151.27. The stock has a market cap of $44.39 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.37 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.30) earnings per share. On average, equities research analysts expect that Allstate will post 14.57 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.19%. Allstate’s payout ratio is presently 81.24%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Allstate in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Allstate in the first quarter worth $25,000. Private Wealth Management Group LLC bought a new position in shares of Allstate during the fourth quarter valued at $25,000. Rise Advisors LLC purchased a new position in shares of Allstate in the 1st quarter worth about $26,000. Finally, Northwest Investment Counselors LLC bought a new position in Allstate in the 1st quarter worth about $26,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.