Allstate (NYSE:ALL) Given New $220.00 Price Target at Raymond James

Allstate (NYSE:ALL) had its price objective upped by Raymond James from $205.00 to $220.00 in a report released on Friday, Benzinga reports. Raymond James currently has a strong-buy rating on the insurance provider’s stock.

A number of other brokerages also recently weighed in on ALL. Roth Mkm reiterated a buy rating and issued a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. StockNews.com downgraded shares of Allstate from a strong-buy rating to a buy rating in a research report on Wednesday, August 21st. Bank of America increased their target price on shares of Allstate from $213.00 to $226.00 and gave the stock a buy rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $193.00 to $200.00 and gave the company an overweight rating in a report on Thursday, July 11th. Finally, Barclays started coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an underweight rating and a $175.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate has a consensus rating of Moderate Buy and an average target price of $195.12.

Allstate Price Performance

Shares of ALL stock traded up $2.73 on Friday, reaching $190.57. The company had a trading volume of 704,734 shares, compared to its average volume of 1,547,504. The business’s 50-day moving average is $183.18 and its 200 day moving average is $172.31. Allstate has a one year low of $110.74 and a one year high of $193.97. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $50.29 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($4.42) EPS. Equities research analysts forecast that Allstate will post 15.2 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were issued a $0.92 dividend. The ex-dividend date was Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.93%. Allstate’s dividend payout ratio is currently 81.24%.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the 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 transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 238,305 shares of company stock valued at $43,082,657. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Allstate during the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate in the 1st quarter worth about $26,000. Versant Capital Management Inc increased its stake in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares during the period. Family Firm Inc. bought a new stake in shares of Allstate during the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC increased its holdings in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the period. 76.47% of the stock is currently owned by 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.