Piper Sandler Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its target price lifted by Piper Sandler from $206.00 to $244.00 in a research note published on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

A number of other research firms have also recently weighed in on ALL. Barclays upped their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. TD Cowen raised their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America boosted their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Evercore ISI lifted their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $217.19.

Allstate Stock Performance

Shares of ALL stock opened at $208.20 on Tuesday. The stock has a 50 day simple moving average of $192.69 and a 200-day simple moving average of $178.77. Allstate has a 12-month low of $134.17 and a 12-month high of $209.88. The company has a market cap of $55.13 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that Allstate will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. BDF Gestion acquired a new position in shares of Allstate during the 2nd quarter valued at $3,051,000. OFI Invest Asset Management acquired a new position in shares of Allstate during the second quarter worth about $476,000. Diversified Trust Co grew its stake in shares of Allstate by 505.3% in the second quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock valued at $1,265,000 after buying an additional 6,614 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock valued at $11,284,000 after buying an additional 50,780 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after acquiring an additional 2,888 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.