Citigroup Lowers Allstate (NYSE:ALL) Price Target to $111.00
Allstate (NYSE:ALL) had its target price trimmed by Citigroup from $118.00 to $111.00 in a research note issued to investors on Friday, February 16th. The firm currently has a buy rating on the insurance provider’s stock.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Allstate from a hold rating to a buy rating and set a $114.00 target price on the stock in a research note on Wednesday, January 3rd. Wells Fargo & Co set a $110.00 price objective on shares of Allstate and gave the stock a buy rating in a report on Thursday, November 16th. ValuEngine raised shares of Allstate from a hold rating to a buy rating in a report on Friday, February 2nd. Bank of America dropped their target price on shares of Allstate from $116.00 to $111.00 and set a buy rating for the company in a research note on Thursday, February 8th. Finally, Deutsche Bank lowered their price target on shares of Allstate from $102.00 to $100.00 and set a hold rating for the company in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $99.00.
Allstate (NYSE ALL) remained flat at $$96.41 during trading on Friday. 2,738,516 shares of the company traded hands, compared to its average volume of 2,940,000. The firm has a market capitalization of $34,590.00, a P/E ratio of 13.81, a PEG ratio of 1.37 and a beta of 1.00. Allstate has a 52 week low of $79.09 and a 52 week high of $105.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.25 and a quick ratio of 0.25.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.46 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, March 2nd. This represents a $1.84 annualized dividend and a yield of 1.91%. Allstate’s dividend payout ratio (DPR) is presently 26.36%.
Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its position in Allstate by 3.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 54,205 shares of the insurance provider’s stock valued at $5,676,000 after purchasing an additional 1,699 shares during the period. Wagner Wealth Management LLC purchased a new position in Allstate during the 4th quarter worth $894,000. Xact Kapitalforvaltning AB boosted its holdings in Allstate by 8.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 52,346 shares of the insurance provider’s stock worth $5,481,000 after acquiring an additional 3,912 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Allstate by 929.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 89,126 shares of the insurance provider’s stock worth $6,364,000 after acquiring an additional 80,466 shares during the last quarter. Finally, CNB Bank bought a new stake in shares of Allstate during the 4th quarter worth $429,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.
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Allstate Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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