Barclays Cuts Allstate (NYSE:ALL) Price Target to $183.00

Allstate (NYSE:ALL) had its price objective lowered by Barclays from $187.00 to $183.00 in a report published on Monday,Benzinga reports. The brokerage currently has an underweight rating on the insurance provider’s stock.

Several other brokerages have also issued reports on ALL. Evercore ISI lifted their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Piper Sandler boosted their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Raymond James lifted their price objective on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets boosted their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.94.

Allstate Stock Up 2.9 %

Allstate stock opened at $191.45 on Monday. Allstate has a twelve month low of $148.23 and a twelve month high of $209.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $50.70 billion, a PE ratio of 12.40, a P/E/G ratio of 1.70 and a beta of 0.52. The firm’s 50 day moving average price is $195.81 and its two-hundred day moving average price is $185.19.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. On average, research analysts predict that Allstate will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Hedge Funds Weigh In On Allstate

Institutional investors and hedge funds have recently bought and sold shares of the stock. FSA Wealth Management LLC bought a new position in Allstate during the third quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the 3rd quarter valued at $29,000. Peoples Bank KS bought a new stake in Allstate in the 4th quarter valued at $49,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Allstate in the 3rd quarter valued at $58,000. 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.