Allstate (NYSE:ALL) PT Raised to $108.00 at Morgan Stanley

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Allstate (NYSE:ALL) had its price target increased by Morgan Stanley from $100.00 to $108.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have an equal weight rating on the insurance provider’s stock.

ALL has been the subject of several other research reports. Credit Suisse Group assumed coverage on shares of Merck & Co., Inc. in a research report on Thursday, July 11th. They set a buy rating and a $95.00 price objective for the company. Zacks Investment Research downgraded shares of KKR & Co Inc from a buy rating to a hold rating in a research report on Friday, March 22nd. Goldman Sachs Group upgraded shares of Koninklijke KPN from a neutral rating to a buy rating in a research report on Wednesday, May 29th. UBS Group restated a buy rating and set a $25.00 price objective on shares of Infineon Technologies in a research report on Tuesday, May 7th. Finally, Barclays restated a buy rating and set a $65.00 price objective on shares of Owens Corning in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $105.42.

Shares of Allstate stock opened at $101.21 on Friday. The stock has a market capitalization of $33.76 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.38 and a beta of 0.81. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. Allstate has a 52-week low of $77.00 and a 52-week high of $107.43. The business has a 50 day moving average price of $102.03.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.02. The business had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.82 billion. Allstate had a net margin of 6.26% and a return on equity of 12.66%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.96 EPS. As a group, analysts predict that Allstate will post 8.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.00 annualized dividend and a yield of 1.98%. Allstate’s dividend payout ratio (DPR) is 24.78%.

In related news, insider Glenn T. Shapiro sold 22,289 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $102.22, for a total value of $2,278,381.58. Following the completion of the sale, the insider now owns 25,584 shares in the company, valued at approximately $2,615,196.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Susan L. Lees sold 30,189 shares of the company’s 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 completion of the sale, the executive vice president now owns 62,854 shares of the company’s stock, valued at approximately $6,427,450.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,703 shares of company stock valued at $5,593,860. 1.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. United Bank increased its stake in Allstate by 1.4% in the 2nd quarter. United Bank now owns 17,312 shares of the insurance provider’s stock valued at $1,760,000 after buying an additional 243 shares during the period. AE Wealth Management LLC increased its stake in Allstate by 32.7% in the 2nd quarter. AE Wealth Management LLC now owns 3,541 shares of the insurance provider’s stock valued at $360,000 after buying an additional 873 shares during the period. Founders Financial Securities LLC acquired a new position in Allstate in the 2nd quarter valued at $968,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Allstate by 2,400.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,100 shares of the insurance provider’s stock valued at $214,000 after buying an additional 2,016 shares during the period. Finally, Cerebellum GP LLC acquired a new position in Allstate in the 2nd quarter valued at $357,000. Hedge funds and other institutional investors own 77.51% 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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Analyst Recommendations for Allstate (NYSE:ALL)

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