Allstate (NYSE:ALL) Price Target Raised to $230.00 at The Goldman Sachs Group

Allstate (NYSE:ALL) had its target price lifted by The Goldman Sachs Group from $209.00 to $230.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other research analysts have also issued reports on the stock. BMO Capital Markets increased their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price objective on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Barclays increased their target price on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

Allstate Price Performance

ALL stock opened at $196.88 on Friday. 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 firm has a market cap of $52.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.75 and a beta of 0.48. The company’s fifty day simple moving average is $190.01 and its 200 day simple moving average is $176.80. Allstate has a 12-month low of $131.65 and a 12-month high of $201.00.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts expect that Allstate will post 16.01 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio is 23.83%.

Insider Activity

In related news, insider John E. Dugenske sold 36,367 shares of the company’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 sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. The trade was a 50.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently modified their holdings of ALL. FSA Wealth Management LLC purchased a new stake in Allstate in the 3rd quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new position in Allstate in the 3rd quarter worth about $29,000. Versant Capital Management Inc raised its holdings in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Allstate during the 2nd quarter valued at about $38,000. 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.