JPMorgan Chase & Co. Boosts Allstate (NYSE:ALL) Price Target to $193.00

Allstate (NYSE:ALL) had its price target boosted by JPMorgan Chase & Co. from $185.00 to $193.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

ALL has been the subject of several other reports. BMO Capital Markets boosted their target price on shares of Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research report on Friday, January 19th. TD Cowen initiated coverage on Allstate in a report on Wednesday, January 10th. They issued an outperform rating and a $193.00 target price on the stock. Wells Fargo & Company increased their price target on Allstate from $145.00 to $146.00 and gave the company an underweight rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $181.00 to $189.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Finally, Roth Mkm raised their price target on shares of Allstate from $175.00 to $200.00 and gave the company a buy rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of Moderate Buy and an average price target of $174.18.

Allstate Stock Performance

Shares of Allstate stock opened at $168.18 on Thursday. The business has a 50-day simple moving average of $165.88 and a 200 day simple moving average of $150.65. The firm has a market capitalization of $44.39 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.40 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.37. Allstate has a one year low of $100.57 and a one year high of $177.37.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $5.13 earnings per share 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 company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the prior year, the firm earned ($1.30) earnings per share. Allstate’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts anticipate that Allstate will post 14.04 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.92 per share. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a yield of 2.19%. Allstate’s dividend payout ratio is 81.24%.

Insider Activity

In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the company’s 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 directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its position in Allstate by 1.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 47,248 shares of the insurance provider’s stock worth $5,264,000 after acquiring an additional 466 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Allstate during the 3rd quarter valued at $164,000. Xponance Inc. increased its holdings in shares of Allstate by 3.2% in the third quarter. Xponance Inc. now owns 36,130 shares of the insurance provider’s stock worth $4,025,000 after buying an additional 1,125 shares during the period. Pinnacle Associates Ltd. purchased a new position in Allstate in the 3rd quarter worth approximately $209,000. Finally, Stratos Wealth Partners LTD. raised its holdings in Allstate by 21.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,032 shares of the insurance provider’s stock worth $1,006,000 after purchasing an additional 1,607 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.