Barclays Increases Allstate (NYSE:ALL) Price Target to $188.00

Allstate (NYSE:ALL - Free Report) had its target price raised by Barclays from $172.00 to $188.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an underweight rating on the insurance provider's stock.

Several other analysts also recently weighed in on ALL. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. William Blair began coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Wells Fargo & Company cut their price target on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $226.27.

Allstate Stock Performance

NYSE ALL traded down $3.54 during trading hours on Monday, reaching $194.46. The company's stock had a trading volume of 1,597,819 shares, compared to its average volume of 1,636,394. The stock has a market cap of $51.50 billion, a PE ratio of 13.28, a PEG ratio of 1.03 and a beta of 0.33. Allstate has a 52 week low of $158.04 and a 52 week high of $213.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The business has a 50-day simple moving average of $201.35 and a 200 day simple moving average of $196.71.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $5.13 EPS. Equities research analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Monday, June 9th. Allstate's dividend payout ratio is presently 27.32%.

Institutional Investors Weigh In On Allstate

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wesbanco Bank Inc. raised its position in Allstate by 25.0% in the second quarter. Wesbanco Bank Inc. now owns 7,947 shares of the insurance provider's stock worth $1,600,000 after acquiring an additional 1,587 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Allstate by 15.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,886 shares of the insurance provider's stock worth $581,000 after purchasing an additional 386 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Allstate by 1.4% in the 2nd quarter. Salem Investment Counselors Inc. now owns 4,313 shares of the insurance provider's stock worth $872,000 after purchasing an additional 60 shares in the last quarter. RB Capital Management LLC increased its holdings in shares of Allstate by 3.6% in the second quarter. RB Capital Management LLC now owns 2,890 shares of the insurance provider's stock valued at $582,000 after buying an additional 100 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Allstate by 7.3% in the second quarter. Harbor Investment Advisory LLC now owns 1,946 shares of the insurance provider's stock valued at $392,000 after buying an additional 133 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

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.