Allstate (NYSE:ALL) PT Raised to $231.00 at Jefferies Financial Group

Allstate (NYSE:ALL) had its price objective upped by equities researchers at Jefferies Financial Group from $217.00 to $231.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 25.22% from the company’s current price.

A number of other analysts have also weighed in on the stock. Raymond James increased their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Barclays initiated coverage on Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price objective for the company. Piper Sandler lifted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. BMO Capital Markets raised their price objective on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.41.

Allstate Stock Up 0.9 %

Shares of NYSE:ALL traded up $1.60 during trading on Wednesday, reaching $184.47. The stock had a trading volume of 478,759 shares, compared to its average volume of 1,547,011. Allstate has a one year low of $113.04 and a one year high of $193.97. The firm’s 50-day simple moving average is $183.60 and its 200 day simple moving average is $172.72. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $48.68 billion, a P/E ratio of 40.77, a PEG ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping 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 business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the company earned ($4.42) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts expect that Allstate will post 15.2 EPS for the current fiscal year.

Insider Activity at Allstate

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Allstate during the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the 1st quarter worth approximately $26,000. Versant Capital Management Inc lifted its stake in 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 buying an additional 78 shares in the last quarter. Family Firm Inc. purchased a new position in Allstate during the second quarter worth $38,000. Finally, MCF Advisors LLC lifted its position in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.