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

Allstate (NYSE:ALL) had its price objective raised by Morgan Stanley from $100.00 to $108.00 in a research note published on Friday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the insurance provider’s stock.

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

Shares of ALL stock opened at $101.21 on Friday. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.38 and a beta of 0.81. Allstate has a 1-year low of $77.00 and a 1-year high of $107.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50-day moving average is $102.03.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.02. The business had revenue of $8.70 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.96 EPS. As a group, equities analysts expect that Allstate will post 8.8 earnings per share for the current year.

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

In other Allstate news, insider Glenn T. Shapiro sold 22,289 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,615,196.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan L. Lees sold 30,189 shares of the stock in a transaction that occurred 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 directly 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 three months, insiders have sold 54,703 shares of company stock valued at $5,593,860. Corporate insiders own 1.60% of the company’s stock.

A number of large investors have recently modified their holdings of the business. United Bank grew its position in Allstate by 1.4% in the second quarter. United Bank now owns 17,312 shares of the insurance provider’s stock valued at $1,760,000 after acquiring an additional 243 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Allstate by 32.7% during the second quarter. AE Wealth Management LLC now owns 3,541 shares of the insurance provider’s stock worth $360,000 after buying an additional 873 shares in the last quarter. Founders Financial Securities LLC acquired a new stake in shares of Allstate during the second quarter worth approximately $968,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Allstate by 2,400.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,100 shares of the insurance provider’s stock worth $214,000 after buying an additional 2,016 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in shares of Allstate during the second quarter worth approximately $357,000. 77.51% of the stock is owned by institutional investors.

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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