Allstate (NYSE:ALL) Price Target Raised to $187.00 at Wells Fargo & Company

Allstate (NYSE:ALL) had its price target hoisted by Wells Fargo & Company from $186.00 to $187.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Barclays dropped their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Bank of America raised their price objective on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Raymond James raised their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.13.

Allstate Stock Up 2.4 %

Shares of Allstate stock opened at $186.87 on Tuesday. Allstate has a 12-month low of $150.17 and a 12-month high of $209.88. The firm has a market capitalization of $49.48 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $195.89 and its 200-day moving average is $186.07.

Allstate (NYSE:ALL) last posted 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 company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities analysts anticipate that Allstate will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.97%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in shares of Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC acquired a new position in Allstate in the 3rd quarter valued at $29,000. Peoples Bank KS bought a new position in Allstate in the 4th quarter worth $49,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in Allstate during the 3rd quarter worth $58,000. 76.47% of the stock is owned by institutional investors.

Allstate Company Profile

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.