Allstate (NYSE:ALL) Given New $216.00 Price Target at Bank of America

Allstate (NYSE:ALL) had its price objective reduced by Bank of America from $226.00 to $216.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research firms have also issued reports on ALL. StockNews.com lowered shares of Allstate from a strong-buy rating to a buy rating in a research note on Wednesday, August 21st. Evercore ISI boosted their target price on shares of Allstate from $191.00 to $195.00 and gave the company an in-line rating in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Allstate from $205.00 to $200.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Roth Mkm restated a buy rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Finally, TD Cowen boosted their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a buy rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $199.24.

Allstate Trading Up 1.3 %

NYSE ALL opened at $188.28 on Thursday. Allstate has a one year low of $113.04 and a one year high of $193.97. The company has a 50-day simple moving average of $184.27 and a 200-day simple moving average of $173.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $49.69 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted ($4.42) EPS. On average, equities analysts forecast that Allstate will post 15.19 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 81.24%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John E. Dugenske sold 36,367 shares of the business’s 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 transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock valued at $43,082,657 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GenWealth Group Inc. purchased a new position in Allstate during the third quarter valued at approximately $241,000. Creative Planning grew its position in Allstate by 5.2% during the third quarter. Creative Planning now owns 66,823 shares of the insurance provider’s stock valued at $12,673,000 after purchasing an additional 3,280 shares in the last quarter. Wesbanco Bank Inc. grew its position in Allstate by 136.4% during the third quarter. Wesbanco Bank Inc. now owns 15,875 shares of the insurance provider’s stock valued at $3,011,000 after purchasing an additional 9,159 shares in the last quarter. CX Institutional grew its position in Allstate by 523.5% during the third quarter. CX Institutional now owns 25,656 shares of the insurance provider’s stock valued at $4,866,000 after purchasing an additional 21,541 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Allstate during the third quarter valued at approximately $93,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.