Allstate (NYSE:ALL) Price Target Raised to $208.00 at Barclays

Allstate (NYSE:ALL) had its target price boosted by Barclays from $207.00 to $208.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the company. Mizuho decreased their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Citigroup boosted their price objective on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Evercore set a $225.00 price objective on Allstate in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $231.00 price objective on shares of Allstate in a research report on Thursday, March 5th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $238.53.

Allstate Stock Performance

Allstate stock opened at $212.20 on Wednesday. Allstate has a 12-month low of $180.00 and a 12-month high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $207.17 and its two-hundred day moving average price is $205.29. The stock has a market cap of $55.07 billion, a PE ratio of 5.56, a P/E/G ratio of 0.42 and a beta of 0.22.

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

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a dividend of $1.08 per share. The ex-dividend date was Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. This is an increase from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is presently 11.31%.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in ALL. Brighton Jones LLC grew its position in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $231,000. Cresset Asset Management LLC grew its position in shares of Allstate by 13.5% in the 2nd quarter. Cresset Asset Management LLC now owns 8,245 shares of the insurance provider’s stock valued at $1,668,000 after buying an additional 979 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Allstate by 1.0% in the 2nd quarter. Bank of Nova Scotia now owns 29,575 shares of the insurance provider’s stock valued at $5,954,000 after buying an additional 296 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Allstate in the 2nd quarter valued at about $210,000. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.