Allstate (NYSE:ALL) Given New $200.00 Price Target at Morgan Stanley

Allstate (NYSE:ALL) had its price objective cut by Morgan Stanley from $205.00 to $200.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other research firms have also weighed in on ALL. Piper Sandler boosted their target price on Allstate from $172.00 to $188.00 and gave the company an overweight rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $194.00 price target on shares of Allstate in a research report on Friday, July 5th. HSBC raised Allstate from a hold rating to a buy rating and upped their price target for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. StockNews.com lowered Allstate from a strong-buy rating to a buy rating in a research report on Monday, June 3rd. Finally, The Goldman Sachs Group increased their target price on Allstate from $164.00 to $195.00 and gave the stock a buy rating in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $175.47.

Allstate Price Performance

Allstate stock opened at $160.01 on Wednesday. Allstate has a 52 week low of $100.57 and a 52 week high of $177.37. The business has a 50-day simple moving average of $163.87 and a 200 day simple moving average of $161.25. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $42.23 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 1.88 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the business earned ($1.30) EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts forecast that Allstate will post 12.15 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, May 31st. Allstate’s payout ratio is 81.24%.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently made changes to their positions in the company. Confluence Wealth Services Inc. lifted its stake in Allstate by 0.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock valued at $1,306,000 after buying an additional 65 shares in the last quarter. Gradient Investments LLC lifted its stake in Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after buying an additional 66 shares in the last quarter. Brighton Jones LLC lifted its stake in Allstate by 1.9% in the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after buying an additional 71 shares in the last quarter. SVB Wealth LLC lifted its stake in Allstate by 1.2% in the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after buying an additional 72 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.