Keefe, Bruyette & Woods Issues Positive Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its target price raised by Keefe, Bruyette & Woods from $235.00 to $243.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

ALL has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group increased their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group boosted their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Bank of America raised their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler boosted their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.06.

Allstate Stock Down 5.6 %

ALL stock opened at $181.12 on Friday. Allstate has a 52 week low of $148.23 and a 52 week high of $209.88. The business has a 50-day simple moving average of $195.84 and a 200 day simple moving average of $185.36. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market cap of $47.96 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts anticipate that Allstate will post 16.26 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 2.03%. Allstate’s payout ratio is currently 23.83%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC grew its stake in shares of Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the last quarter. AQR Capital Management LLC grew its position in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in Allstate in the 3rd quarter valued at about $77,819,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of Allstate by 688.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock worth $87,292,000 after buying an additional 401,901 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

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.