Allstate (NYSE:ALL) Given New $244.00 Price Target at Piper Sandler

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

Several other brokerages also recently weighed in on ALL. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Barclays boosted their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Bank of America upped their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their target price on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group upped their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $217.19.

Allstate Stock Performance

NYSE:ALL opened at $207.39 on Tuesday. Allstate has a 12 month low of $134.17 and a 12 month high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $54.92 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The business’s fifty day moving average price is $193.02 and its 200 day moving average price is $179.03.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 EPS. On average, sell-side analysts anticipate that Allstate will post 16.26 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of Allstate by 5.1% during the 3rd quarter. Franklin Resources Inc. now owns 136,632 shares of the insurance provider’s stock valued at $26,032,000 after acquiring an additional 6,616 shares during the period. Tidal Investments LLC increased its stake in Allstate by 28.2% in the 3rd quarter. Tidal Investments LLC now owns 40,759 shares of the insurance provider’s stock valued at $7,730,000 after purchasing an additional 8,977 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Allstate by 457.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,249 shares of the insurance provider’s stock worth $1,754,000 after purchasing an additional 7,590 shares during the last quarter. World Investment Advisors LLC boosted its position in Allstate by 534.3% during the third quarter. World Investment Advisors LLC now owns 33,530 shares of the insurance provider’s stock worth $6,359,000 after purchasing an additional 28,244 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its holdings in Allstate by 5.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,776 shares of the insurance provider’s stock valued at $1,095,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors 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.