Allstate (NYSE:ALL) Price Target Raised to $230.00 at The Goldman Sachs Group

Allstate (NYSE:ALL) had its target price increased by The Goldman Sachs Group from $209.00 to $230.00 in a research note published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the insurance provider’s stock.

Several other brokerages also recently commented on ALL. Piper Sandler upped their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. 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. UBS Group boosted their target price on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average target price of $214.19.

Allstate Trading Up 1.6 %

Shares of ALL stock opened at $199.97 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $190.27 and a 200 day moving average of $177.02. The stock has a market capitalization of $52.95 billion, a PE ratio of 12.95, a P/E/G ratio of 1.75 and a beta of 0.48. Allstate has a 1-year low of $132.74 and a 1-year high of $201.00.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Allstate will post 16.01 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is 23.83%.

Insider Transactions at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred 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 sale, the insider now 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 disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after purchasing an additional 126,922 shares in the last quarter. Geode Capital Management LLC lifted its stake in Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after acquiring an additional 74,537 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares during the last quarter. Raymond James & Associates grew its stake in shares of Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after acquiring an additional 145,986 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after purchasing an additional 47,038 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other 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.