Brokerages Set The Allstate Corporation (NYSE:ALL) Price Target at $227.07

Key Points

• The Allstate Corporation has received a consensus rating of "Moderate Buy" from 17 research firms, with an average price target of $227.07.
• Recent analyst ratings highlight price target increases, such as Morgan Stanley raising theirs from $225 to $235, while Wells Fargo set a new target of $197.
• Allstate announced a quarterly dividend of $1.00 per share, yielding 2.04%, with the payment scheduled for October 1st.

The Allstate Corporation (NYSE:ALL - Get Free Report) has earned an average rating of "Moderate Buy" from the seventeen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $227.07.

A number of equities analysts have issued reports on ALL shares. Raymond James Financial reiterated a "strong-buy" rating and issued a $250.00 price objective (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a research note on Monday. Wells Fargo & Company cut their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods increased their target price on Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley increased their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th.

Institutional Trading of Allstate

Large investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the last quarter. Boston Partners lifted its holdings in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after buying an additional 2,134,893 shares during the period. Norges Bank acquired a new stake in shares of Allstate during the fourth quarter worth $344,354,000. Finally, GAMMA Investing LLC grew its position in Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after purchasing an additional 1,268,825 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE ALL traded down $0.35 during midday trading on Monday, hitting $193.55. 695,793 shares of the company's stock were exchanged, compared to its average volume of 1,749,328. The business's fifty day moving average price is $198.69 and its two-hundred day moving average price is $197.01. The company has a market cap of $51.25 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.00 and a beta of 0.33. Allstate has a 12-month low of $168.36 and a 12-month 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.

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

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is currently 27.32%.

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.