Morgan Stanley Boosts Allstate (NYSE:ALL) Price Target to $190.00

Allstate (NYSE:ALL - Free Report) had its price objective hoisted by Morgan Stanley from $187.00 to $190.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a buy rating in a report on Monday, March 25th. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $172.00 to $185.00 and gave the stock an overweight rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised shares of Allstate from a hold rating to a buy rating and lifted their target price for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Finally, Piper Sandler boosted their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an overweight rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate has an average rating of Moderate Buy and an average target price of $173.71.

Allstate Trading Down 0.6 %

NYSE ALL traded down $1.05 during trading on Monday, hitting $165.76. The stock had a trading volume of 1,126,935 shares, compared to its average volume of 1,691,804. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $43.61 billion, a price-to-earnings ratio of -133.68, a P/E/G ratio of 0.41 and a beta of 0.52. Allstate has a one year low of $100.57 and a one year high of $174.57. The stock has a 50 day simple moving average of $163.22 and a 200 day simple moving average of $145.95.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $1.95. The business had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted ($1.36) earnings per share. Sell-side analysts predict that Allstate will post 13.41 earnings per share for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.92 per share. The ex-dividend date was Friday, March 1st. This is a boost from Allstate's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.22%. Allstate's dividend payout ratio (DPR) is -296.77%.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALL. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Allstate in the 3rd quarter worth about $25,000. Private Wealth Management Group LLC purchased a new position in Allstate in the 4th quarter worth about $25,000. Rise Advisors LLC purchased a new position in Allstate in the 1st quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the 1st quarter worth about $26,000. Finally, First Capital Advisors Group LLC. purchased a new position in Allstate in the 2nd quarter worth about $29,000. 76.47% of the stock is owned by institutional investors and hedge funds.

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.