Wells Fargo & Company Trims Allstate (NYSE:ALL) Target Price to $175.00

Allstate (NYSE:ALL) had its price objective reduced by Wells Fargo & Company from $177.00 to $175.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

ALL has been the topic of a number of other research reports. BMO Capital Markets boosted their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an outperform rating in a research report on Monday, August 5th. StockNews.com downgraded shares of Allstate from a strong-buy rating to a buy rating in a research report on Friday, August 9th. Roth Mkm restated a buy rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on shares of Allstate from $199.00 to $204.00 and gave the stock a buy rating in a research report on Thursday. Finally, Bank of America boosted their price target on shares of Allstate from $213.00 to $226.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $191.94.

Allstate Stock Up 0.9 %

NYSE:ALL opened at $179.64 on Friday. The firm’s 50 day simple moving average is $166.45 and its 200 day simple moving average is $165.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a one year low of $104.29 and a one year high of $184.30. The company has a market cap of $47.41 billion, a PE ratio of 39.66, a P/E/G ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the company earned ($4.42) EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. On average, research analysts anticipate that Allstate will post 13.64 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 2.05%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently bought and sold shares of ALL. Cerity Partners LLC boosted its holdings in Allstate by 64.4% during the 4th quarter. Cerity Partners LLC now owns 19,459 shares of the insurance provider’s stock worth $2,726,000 after acquiring an additional 7,626 shares during the last quarter. NewEdge Wealth LLC purchased a new position in Allstate during the 4th quarter worth $219,000. SVB Wealth LLC boosted its holdings in Allstate by 1.2% during the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after acquiring an additional 72 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Allstate by 6.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,576 shares of the insurance provider’s stock worth $3,300,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Allstate by 70.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 384 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 159 shares during the last quarter. 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.