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

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

Several other research analysts have also recently commented on the stock. Wells Fargo & Company raised their target price on shares of Allstate from $145.00 to $146.00 and gave the stock an underweight rating in a report on Thursday, April 11th. UBS Group upped their price target 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. Jefferies Financial Group raised Allstate from a hold rating to a buy rating and lifted their price objective for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. TheStreet raised Allstate from a c+ rating to a b rating in a research note on Wednesday, February 7th. Finally, HSBC raised Allstate from a hold rating to a buy rating and boosted their price target for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $174.18.

Allstate Trading Down 0.6 %

Shares of NYSE:ALL opened at $168.18 on Thursday. The stock 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. Allstate has a 1-year low of $100.57 and a 1-year high of $177.37. The company has a 50 day moving average price of $165.88 and a 200 day moving average price of $150.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.37 and a current ratio of 0.36.

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

Allstate Increases Dividend

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

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was 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 directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Allstate in the 1st quarter valued at about $25,000. Private Wealth Management Group LLC bought a new stake in Allstate during the fourth quarter worth about $25,000. Rise Advisors LLC bought a new position in Allstate in the first quarter valued at approximately $26,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $26,000. 76.47% of the stock is owned by 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.