Allstate (NYSE:ALL) PT Raised to $216.00

Allstate (NYSE:ALL) had its price objective raised by equities researchers at UBS Group from $215.00 to $216.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. UBS Group’s price target indicates a potential upside of 10.41% from the company’s previous close.

Other analysts have also recently issued reports about the company. Evercore ISI raised their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. TD Cowen upped their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group upped their target price on shares of Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.06.

Allstate Stock Performance

Shares of ALL opened at $195.64 on Tuesday. The stock has a market capitalization of $51.63 billion, a P/E ratio of 43.19, a P/E/G ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 1 year low of $121.70 and a 1 year high of $195.87. The company’s fifty day moving average is $185.67 and its two-hundred day moving average is $173.49.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.42) earnings per share. On average, sell-side analysts predict that Allstate will post 15.19 earnings per share for the current year.

Insider Activity at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allstate 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 transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,530 shares of company stock valued at $34,967,665 over the last quarter. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several large investors have recently added to or reduced their stakes in the business. SPC Financial Inc. increased its stake in shares of Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after acquiring an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its position in Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in Allstate by 2.5% during the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 61 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in shares of Allstate by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,567 shares of the insurance provider’s stock valued at $1,245,000 after purchasing an additional 61 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its stake in shares of Allstate by 5.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,360 shares of the insurance provider’s stock valued at $258,000 after buying an additional 76 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Company Profile

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.