Allstate (ALL) Given a $100.00 Price Target at Wells Fargo & Co
ALL has been the subject of several other reports. Zacks Investment Research downgraded Allstate from a buy rating to a hold rating in a research report on Monday, September 24th. ValuEngine downgraded Allstate from a hold rating to a sell rating in a research report on Thursday, June 21st. B. Riley upped their target price on Allstate from $88.00 to $103.00 and gave the stock a neutral rating in a research report on Tuesday, August 7th. Buckingham Research upgraded Allstate from an underperform rating to a neutral rating and set a $88.00 target price for the company in a research report on Wednesday, July 18th. Finally, Credit Suisse Group cut their target price on Allstate from $114.00 to $112.00 and set a buy rating for the company in a research report on Tuesday, August 28th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $104.62.
Shares of NYSE ALL traded up $0.46 during midday trading on Thursday, hitting $97.07. 83,798 shares of the company’s stock were exchanged, compared to its average volume of 1,669,472. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. The company has a market cap of $33.15 billion, a PE ratio of 14.48, a P/E/G ratio of 1.24 and a beta of 0.91. Allstate has a twelve month low of $88.29 and a twelve month high of $105.36.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, August 31st were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.90%. Allstate’s dividend payout ratio (DPR) is 27.42%.
In other news, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the completion of the sale, the executive vice president now owns 14,606 shares in the company, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenn T. Shapiro sold 21,728 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $98.70, for a total value of $2,144,553.60. The disclosure for this sale can be found here. Insiders sold 54,432 shares of company stock valued at $5,386,208 over the last 90 days. 1.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Allstate by 0.4% during the 2nd quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock valued at $623,554,000 after acquiring an additional 24,814 shares during the last quarter. Morgan Stanley lifted its position in shares of Allstate by 11.3% during the 2nd quarter. Morgan Stanley now owns 972,750 shares of the insurance provider’s stock valued at $88,783,000 after acquiring an additional 99,122 shares during the last quarter. Millennium Management LLC lifted its position in shares of Allstate by 101.9% during the 2nd quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock valued at $145,082,000 after acquiring an additional 802,167 shares during the last quarter. Reliance Trust Co. of Delaware lifted its position in shares of Allstate by 8.6% during the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock valued at $664,000 after acquiring an additional 575 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Allstate by 18.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 572,645 shares of the insurance provider’s stock valued at $52,283,000 after acquiring an additional 91,117 shares during the last quarter. Institutional investors own 76.23% of the company’s stock.
Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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