Allstate (NYSE:ALL) PT Raised to $125.00 at Raymond James
Allstate (NYSE:ALL) had its price objective increased by Raymond James from $115.00 to $125.00 in a research note published on Thursday, 24/7 WallStreet reports. Raymond James currently has a strong-buy rating on the insurance provider’s stock.
ALL has been the topic of a number of other reports. Credit Suisse Group cut shares of Allstate from a neutral rating to an underperform rating and decreased their price objective for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. Morgan Stanley lifted their price objective on shares of Allstate from $100.00 to $108.00 and gave the company an equal weight rating in a research note on Friday, July 19th. UBS Group boosted their target price on shares of Allstate from $102.00 to $106.00 and gave the stock a neutral rating in a research note on Tuesday, May 7th. Goldman Sachs Group raised shares of Allstate from a neutral rating to a buy rating and boosted their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Finally, Barclays boosted their target price on shares of Allstate from $110.00 to $115.00 and gave the stock an overweight rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $106.92.
NYSE:ALL traded down $0.37 during mid-day trading on Thursday, reaching $104.51. The stock had a trading volume of 1,727,225 shares, compared to its average volume of 1,367,372. The business has a 50-day simple moving average of $102.77. The stock has a market capitalization of $34.53 billion, a PE ratio of 12.95, a PEG ratio of 1.39 and a beta of 0.82. The company has a quick ratio of 0.29, a current ratio of 0.28 and a debt-to-equity ratio of 0.29. Allstate has a 12 month low of $77.00 and a 12 month high of $109.13.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. Allstate’s payout ratio is presently 24.78%.
In other news, EVP Susan L. Lees sold 30,189 shares of Allstate stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $102.26, for a total transaction of $3,087,127.14. Following the transaction, the executive vice president now owns 62,854 shares in the company, valued at $6,427,450.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Glenn T. Shapiro sold 22,289 shares of Allstate stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the transaction, the insider now owns 25,584 shares in the company, valued at approximately $2,615,196.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,703 shares of company stock worth $5,593,860. Insiders own 1.60% of the company’s stock.
Several large investors have recently modified their holdings of ALL. Usca Ria LLC acquired a new position in Allstate in the second quarter valued at $698,000. Gamco Investors INC. ET AL acquired a new position in shares of Allstate during the second quarter valued at about $7,678,000. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in shares of Allstate during the second quarter valued at about $1,147,000. AR Asset Management Inc. acquired a new position in shares of Allstate during the second quarter valued at about $203,000. Finally, Comerica Bank raised its holdings in shares of Allstate by 1.7% during the second quarter. Comerica Bank now owns 87,176 shares of the insurance provider’s stock valued at $8,974,000 after purchasing an additional 1,499 shares during the period. Institutional investors own 77.45% of the company’s stock.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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