Allstate (NYSE:ALL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Allstate (NYSE:ALL) had its price target lifted by research analysts at Piper Sandler from $206.00 to $244.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s target price indicates a potential upside of 17.20% from the stock’s previous close.

ALL has been the topic of several other research reports. Roth Mkm reiterated a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Raymond James lifted their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. UBS Group increased their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Bank of America raised their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley upped their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $217.19.

Allstate Price Performance

Allstate stock opened at $208.19 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $55.13 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48. The firm has a 50-day moving average of $192.34 and a two-hundred day moving average of $178.57. Allstate has a 1 year low of $134.17 and a 1 year high of $209.88.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts forecast that Allstate will post 16.07 earnings per share for the current year.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FSA Wealth Management LLC acquired a new position in shares of Allstate during the 3rd quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate during the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in Allstate during the third quarter worth about $29,000. Versant Capital Management Inc lifted its holdings in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Allstate in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.