Raymond James Raises Allstate (NYSE:ALL) Price Target to $220.00

Allstate (NYSE:ALL) had its price objective increased by equities researchers at Raymond James from $205.00 to $220.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the insurance provider’s stock. Raymond James’ price target would indicate a potential upside of 15.59% from the stock’s previous close.

ALL has been the topic of several other reports. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays started coverage on shares of Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. Wells Fargo & Company decreased their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.12.

Allstate Stock Performance

Shares of ALL stock traded up $2.48 on Friday, reaching $190.32. The stock had a trading volume of 348,775 shares, compared to its average volume of 1,545,650. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average is $182.75 and its two-hundred day moving average is $172.12. The firm has a market capitalization of $50.23 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 1.81 and a beta of 0.48. Allstate has a 12 month low of $110.74 and a 12 month high of $193.97.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.42) EPS. On average, research analysts expect that Allstate will post 15.2 EPS for the current fiscal year.

Insider Buying and Selling at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock worth $43,082,657 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. Rise Advisors LLC acquired a new stake in Allstate in the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate during the 1st quarter worth about $26,000. Versant Capital Management Inc increased its holdings in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Allstate in the 2nd quarter valued at about $38,000. Finally, MCF Advisors LLC boosted its position in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 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.