Allstate (NYSE:ALL) Price Target Raised to $233.00

Allstate (NYSE:ALL) had its target price upped by Bank of America from $216.00 to $233.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other research analysts have also weighed in on the company. BMO Capital Markets lifted their target price on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group boosted their price objective on Allstate from $215.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler raised their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Allstate Price Performance

Allstate stock opened at $195.37 on Friday. The firm has a market capitalization of $51.56 billion, a P/E ratio of 43.13, a PEG ratio of 1.74 and a beta of 0.48. The business has a 50-day moving average of $186.66 and a 200-day moving average of $173.81. 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 has a 1 year low of $121.70 and a 1 year high of $198.79.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.42) earnings per share. On average, equities analysts anticipate that Allstate will post 15.19 EPS for the current year.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on 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 directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated Friday, September 20th. The shares were 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 directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,530 shares of company stock worth $34,967,665. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently bought and sold shares of ALL. Artemis Investment Management LLP bought a new stake in Allstate in the first quarter valued at approximately $95,764,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the last quarter. AQR Capital Management LLC raised its stake in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after acquiring an additional 464,337 shares during the period. Acadian Asset Management LLC lifted its holdings in Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Allstate by 757.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 340,274 shares of the insurance provider’s stock valued at $54,328,000 after purchasing an additional 300,572 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.