Allstate (NYSE:ALL) Price Target Increased to $190.00 by Analysts at Morgan Stanley

Allstate (NYSE:ALL) had its target price lifted by Morgan Stanley from $187.00 to $190.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

ALL has been the topic of several other reports. UBS Group boosted their price objective on shares of Allstate from $171.00 to $185.00 and gave the stock a buy rating in a research note on Monday, February 12th. HSBC upgraded shares of 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 note on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of Allstate from $164.00 to $195.00 and gave the company a buy rating in a research note on Monday, March 25th. Roth Mkm upped their price target on shares of Allstate from $175.00 to $200.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Allstate from $181.00 to $189.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Allstate presently has a consensus rating of Moderate Buy and a consensus price target of $173.71.

Allstate Trading Up 3.8 %

Shares of NYSE:ALL opened at $169.12 on Monday. The company’s 50-day moving average price is $163.59 and its two-hundred day moving average price is $146.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. Allstate has a one year low of $100.57 and a one year high of $174.57. The stock has a market capitalization of $44.49 billion, a PE ratio of -136.39, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same period in the previous year, the firm posted ($1.36) EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Allstate will post 13.5 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is -296.77%.

Insider Transactions at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the company’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 sale, the chief accounting officer now 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 is accessible through this hyperlink. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred 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 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 is available through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allstate

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate in the 3rd quarter valued at approximately $25,000. Private Wealth Management Group LLC acquired a new position in Allstate in the 4th quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Allstate during the first quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the first quarter worth $26,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Allstate during the second quarter worth $29,000. 76.47% of the stock is currently 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.