BMO Capital Markets Boosts Allstate (NYSE:ALL) Price Target to $214.00

Allstate (NYSE:ALL) had its price target lifted by stock analysts at BMO Capital Markets from $205.00 to $214.00 in a report issued on Friday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 9.54% from the company’s current price.

A number of other analysts have also commented on ALL. Evercore ISI lifted their price objective on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. TD Cowen lifted their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Raymond James lifted their price objective on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.59.

Allstate Stock Performance

Shares of NYSE:ALL opened at $195.37 on Friday. Allstate has a twelve month low of $121.70 and a twelve month high of $198.79. The firm has a market cap of $51.56 billion, a PE ratio of 43.13, a price-to-earnings-growth 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. The business has a fifty day moving average of $186.66 and a 200-day moving average of $173.81.

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

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction dated 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 in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. 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 accessible through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated 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 approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,530 shares of company stock worth $34,967,665 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently modified their holdings of the stock. SPC Financial Inc. raised its holdings in Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after acquiring an additional 54 shares in the last quarter. Abacus Planning Group Inc. raised its holdings 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 acquiring an additional 56 shares in the last quarter. Premier Path Wealth Partners LLC raised its holdings 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 acquiring an additional 61 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in Allstate by 0.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,567 shares of the insurance provider’s stock worth $1,245,000 after acquiring an additional 61 shares in the last quarter. Finally, Aprio Wealth Management LLC raised its holdings in Allstate by 5.9% during the third quarter. Aprio Wealth Management LLC now owns 1,360 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 76 shares in the last quarter. 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.