Allstate (ALL) Given a $115.00 Price Target by Citigroup Analysts

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Citigroup set a $115.00 price objective on Allstate (NYSE:ALL) in a report released on Friday. The firm currently has a buy rating on the insurance provider’s stock.

ALL has been the subject of a number of other reports. ValuEngine lowered shares of Allstate from a hold rating to a sell rating in a research note on Thursday, June 21st. Zacks Investment Research lowered shares of Allstate from a buy rating to a hold rating in a research note on Monday, September 24th. B. Riley upped their target price on shares of Allstate from $88.00 to $103.00 and gave the stock a neutral rating in a research note on Tuesday, August 7th. Wells Fargo & Co reaffirmed a hold rating on shares of Allstate in a research note on Thursday, August 16th. Finally, Buckingham Research raised shares of Allstate from an underperform rating to a neutral rating and set a $88.00 target price for the company in a research note on Wednesday, July 18th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $104.62.

Shares of ALL traded down $0.01 during trading hours on Friday, reaching $93.16. The stock had a trading volume of 1,858,848 shares, compared to its average volume of 2,073,803. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate has a 52 week low of $88.29 and a 52 week high of $105.36. The stock has a market cap of $34.17 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.27 and a beta of 0.92.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. On average, equities research analysts expect that Allstate will post 9.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, August 31st were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.98%. Allstate’s dividend payout ratio is 27.42%.

In other news, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the completion of the transaction, the executive vice president now directly owns 14,606 shares in the company, valued at approximately $1,444,095.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Glenn T. Shapiro sold 21,728 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $98.70, for a total transaction of $2,144,553.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,432 shares of company stock valued at $5,386,208. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of ALL. Private Capital Group LLC raised its holdings in shares of Allstate by 195.5% in the 1st quarter. Private Capital Group LLC now owns 1,182 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 782 shares during the period. Kiley Juergens Wealth Management LLC bought a new stake in shares of Allstate in the 2nd quarter valued at about $124,000. Summit Trail Advisors LLC raised its holdings in shares of Allstate by 11,436.6% in the 1st quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 146,160 shares during the period. Denali Advisors LLC bought a new stake in shares of Allstate in the 3rd quarter valued at about $158,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Allstate by 150.0% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 1,750 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,050 shares during the period. Institutional investors own 76.22% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Analyst Recommendations for Allstate (NYSE:ALL)

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