Allstate (NYSE:ALL) Hits New 12-Month High After Analyst Upgrade

The Allstate Co. (NYSE:ALL)’s stock price hit a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $215.00 to $216.00. UBS Group currently has a buy rating on the stock. Allstate traded as high as $195.87 and last traded at $195.65, with a volume of 1422478 shares traded. The stock had previously closed at $193.01.

A number of other equities research analysts have also commented on ALL. Roth Mkm reissued a “buy” rating and issued a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. The Goldman Sachs Group increased their price target on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group increased their price target on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Raymond James increased their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods increased their price target on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.06.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont boosted its stake in Allstate by 0.6% in the 3rd quarter. Trust Co. of Vermont now owns 25,389 shares of the insurance provider’s stock worth $4,815,000 after purchasing an additional 161 shares during the period. Bleakley Financial Group LLC boosted its stake in Allstate by 3.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,840 shares of the insurance provider’s stock worth $1,108,000 after purchasing an additional 173 shares during the period. Global Retirement Partners LLC boosted its stake in Allstate by 12.0% in the 3rd quarter. Global Retirement Partners LLC now owns 2,674 shares of the insurance provider’s stock worth $507,000 after purchasing an additional 286 shares during the period. Good Life Advisors LLC boosted its stake in Allstate by 9.2% in the 3rd quarter. Good Life Advisors LLC now owns 3,960 shares of the insurance provider’s stock worth $751,000 after purchasing an additional 334 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at about $986,000. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.4 %

The firm has a fifty day simple moving average of $185.67 and a two-hundred day simple moving average of $173.49. The stock has a market cap of $51.63 billion, a PE ratio of 43.19, a PEG ratio of 1.74 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the firm posted ($4.42) EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that The Allstate Co. will post 15.19 earnings per share for the current fiscal year.

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.