Allstate (NYSE:ALL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

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

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Morgan Stanley raised their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. BMO Capital Markets upped their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group increased their price objective on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.06.

Allstate Trading Down 5.6 %

NYSE ALL opened at $181.12 on Friday. The stock’s 50-day simple moving average is $195.84 and its two-hundred day simple moving average is $185.72. Allstate has a twelve month low of $148.23 and a twelve month high of $209.88. 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 capitalization of $47.96 billion, a price-to-earnings ratio of 11.73, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. Research analysts forecast that Allstate will post 16.26 EPS for the current fiscal year.

Allstate Dividend Announcement

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

Hedge Funds Weigh In On Allstate

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Allstate by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 97,567 shares of the insurance provider’s stock worth $18,503,000 after purchasing an additional 397 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Allstate in the 4th quarter worth about $14,518,000. Peoples Bank KS purchased a new position in Allstate in the 4th quarter worth about $49,000. Boltwood Capital Management raised its position in Allstate by 10.5% in the 4th quarter. Boltwood Capital Management now owns 7,710 shares of the insurance provider’s stock worth $1,486,000 after buying an additional 730 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Allstate by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 54,086 shares of the insurance provider’s stock valued at $10,397,000 after acquiring an additional 631 shares during the last quarter. 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.