The Goldman Sachs Group Raises Allstate (NYSE:ALL) Price Target to $195.00

Allstate (NYSE:ALL) had its price target raised by The Goldman Sachs Group from $164.00 to $195.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other equities analysts have also recently issued reports on ALL. HSBC initiated coverage on shares of Allstate in a research report on Thursday, December 28th. They issued a hold rating and a $145.00 price target for the company. Raymond James upped their price target on shares of Allstate from $155.00 to $180.00 and gave the company a strong-buy rating in a research report on Monday, January 22nd. TD Cowen initiated coverage on shares of Allstate in a research report on Wednesday, January 10th. They set an outperform rating and a $193.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Allstate from $140.00 to $158.00 and gave the stock a market perform rating in a research report on Friday, January 19th. Finally, Morgan Stanley upgraded shares of Allstate from an equal weight rating to an overweight rating and increased their price objective for the stock from $117.00 to $171.00 in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate has an average rating of Moderate Buy and a consensus target price of $162.75.

Allstate Price Performance

ALL stock opened at $169.78 on Monday. The company has a 50 day simple moving average of $159.13 and a 200 day simple moving average of $140.17. The stock has a market cap of $44.66 billion, a price-to-earnings ratio of -136.92, a P/E/G ratio of 0.45 and a beta of 0.51. Allstate has a 1 year low of $100.57 and a 1 year high of $171.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.36) EPS. Research analysts anticipate that Allstate will post 13.11 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, March 1st. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently bought and sold shares of ALL. Vanguard Group Inc. lifted its holdings in shares of Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Allstate by 0.8% in the 2nd quarter. BlackRock Inc. now owns 22,294,372 shares of the insurance provider’s stock worth $2,430,978,000 after acquiring an additional 181,050 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Allstate by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,123,728 shares of the insurance provider’s stock worth $1,137,160,000 after acquiring an additional 75,898 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Allstate by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock worth $660,318,000 after buying an additional 172,250 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Allstate by 1.1% in the first quarter. Geode Capital Management LLC now owns 5,815,257 shares of the insurance provider’s stock worth $643,015,000 after buying an additional 63,438 shares during the period. 76.47% of the stock is currently 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.