Brokerages Set The Allstate Corporation (NYSE:ALL) Price Target at $238.88

The Allstate Corporation (NYSE:ALL) has been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $238.8824.

A number of research analysts have recently issued reports on ALL shares. Evercore set a $225.00 target price on Allstate in a report on Wednesday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Roth Mkm lifted their price objective on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Finally, Morgan Stanley restated an “equal weight” rating and set a $215.00 price objective (down from $245.00) on shares of Allstate in a research report on Tuesday, December 16th.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allstate

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Larry Mathis Financial Planning LLC acquired a new stake in shares of Allstate in the 4th quarter valued at approximately $293,000. Corient Private Wealth LLC boosted its stake in shares of Allstate by 4.6% in the fourth quarter. Corient Private Wealth LLC now owns 250,249 shares of the insurance provider’s stock valued at $52,092,000 after buying an additional 11,119 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Allstate by 8.1% during the fourth quarter. Hsbc Holdings PLC now owns 1,141,943 shares of the insurance provider’s stock worth $238,232,000 after acquiring an additional 85,808 shares during the period. Pure Financial Advisors LLC raised its position in Allstate by 39.1% in the fourth quarter. Pure Financial Advisors LLC now owns 1,850 shares of the insurance provider’s stock worth $385,000 after acquiring an additional 520 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in Allstate by 18.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,422 shares of the insurance provider’s stock worth $504,000 after acquiring an additional 381 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $204.84 on Tuesday. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $216.75. The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 5.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The firm has a 50-day simple moving average of $204.47 and a 200-day simple moving average of $204.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.67 EPS. On average, equities research analysts anticipate that Allstate will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Allstate’s dividend payout ratio is currently 11.31%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.