Allstate (NYSE:ALL) Given “Outperform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Allstate (NYSE:ALL) in a research note released on Friday, Benzinga reports. The brokerage currently has a $194.00 target price on the insurance provider’s stock.

A number of other equities research analysts have also recently weighed in on ALL. HSBC upgraded Allstate from a hold rating to a buy rating and boosted their price objective for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $185.00 to $193.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Piper Sandler upped their target price on shares of Allstate from $172.00 to $188.00 and gave the company an overweight rating in a report on Monday, April 1st. Wells Fargo & Company raised their price target on Allstate from $146.00 to $153.00 and gave the stock an underweight rating in a report on Friday, May 10th. Finally, Roth Mkm upped their price objective on Allstate from $175.00 to $200.00 and gave the company a buy rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has an average rating of Moderate Buy and a consensus target price of $174.88.

Allstate Trading Down 1.3 %

Shares of Allstate stock opened at $160.52 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $166.53 and a 200-day simple moving average of $159.24. The stock has a market cap of $42.36 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 1.51 and a beta of 0.50. Allstate has a 12-month low of $100.57 and a 12-month high of $177.37.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same quarter in the prior year, the firm posted ($1.30) earnings per share. Allstate’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Allstate will post 15.13 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 2.29%. Allstate’s dividend payout ratio is presently 81.24%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction 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 completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. Clear Rock Advisors LLC raised its holdings in shares of Allstate by 1.5% in the first quarter. Clear Rock Advisors LLC now owns 18,026 shares of the insurance provider’s stock worth $3,119,000 after acquiring an additional 267 shares during the last quarter. Maxwell Wealth Strategies Inc. acquired a new position in Allstate in the 1st quarter valued at about $1,099,000. Pathway Financial Advisers LLC purchased a new position in Allstate in the 1st quarter valued at about $994,000. Cetera Advisors LLC boosted its stake in shares of Allstate by 91.3% during the 1st quarter. Cetera Advisors LLC now owns 16,103 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 7,684 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Allstate by 351.6% during the first quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after buying an additional 50,780 shares in the last quarter. Hedge funds and other 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.