JPMorgan Chase & Co. Increases Allstate (NYSE:ALL) Price Target to $193.00

Allstate (NYSE:ALL - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $185.00 to $193.00 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the insurance provider's stock.

Several other research firms have also recently issued reports on ALL. The Goldman Sachs Group lifted their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a buy rating in a research report on Monday, March 25th. TheStreet raised shares of Allstate from a c+ rating to a b rating in a research report on Wednesday, February 7th. Raymond James lifted their price objective on shares of Allstate from $155.00 to $180.00 and gave the stock a strong-buy rating in a research report on Monday, January 22nd. Jefferies Financial Group raised shares of Allstate from a hold rating to a buy rating and lifted their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Finally, Piper Sandler boosted their price target on shares of Allstate from $172.00 to $188.00 and gave the company an overweight rating in a research report on Monday, April 1st. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Allstate presently has a consensus rating of Moderate Buy and an average target price of $174.18.

Allstate Trading Down 1.4 %

Allstate stock traded down $2.38 during trading on Thursday, hitting $169.18. The company had a trading volume of 3,182,053 shares, compared to its average volume of 1,686,629. Allstate has a 1-year low of $100.57 and a 1-year high of $177.37. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The company's 50 day simple moving average is $165.70 and its 200-day simple moving average is $150.52. The stock has a market cap of $44.51 billion, a price-to-earnings ratio of -137.31, a price-to-earnings-growth ratio of 0.41 and a beta of 0.51.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 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 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.30) earnings per share. As a group, analysts expect that Allstate will post 13.83 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Allstate's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.18%. Allstate's dividend payout ratio is currently -296.77%.

Insider Activity

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

Hedge Funds Weigh In On Allstate

Institutional investors and hedge funds have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Allstate during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Allstate during the first quarter worth approximately $25,000. Private Wealth Management Group LLC purchased a new position in Allstate during the fourth quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Allstate in the first quarter worth $26,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Allstate in the first quarter worth $26,000. 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.