Allstate (NYSE:ALL) Given New $187.00 Price Target at Barclays

Allstate (NYSE:ALL) had its price objective raised by Barclays from $175.00 to $187.00 in a research note released on Thursday morning, Benzinga reports. They currently have an underweight rating on the insurance provider’s stock.

Several other research analysts also recently weighed in on the company. Piper Sandler upped their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. BMO Capital Markets lifted their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Morgan Stanley lifted their target price on Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $207.19.

Allstate Stock Down 1.3 %

Shares of ALL stock opened at $184.15 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.36. Allstate has a one year low of $127.93 and a one year high of $198.79. The company’s fifty day moving average price is $188.87 and its 200-day moving average price is $175.32. The company has a market capitalization of $48.76 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.88 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Sell-side analysts expect that Allstate will post 14.16 EPS for the current fiscal year.

Insider Activity at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently modified their holdings of ALL. BDF Gestion bought a new stake in Allstate during the 2nd quarter valued at $3,051,000. BNP Paribas Financial Markets raised its holdings in shares of Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after acquiring an additional 78,316 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Allstate in the second quarter worth about $476,000. Envestnet Portfolio Solutions Inc. grew its holdings in Allstate by 12.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after acquiring an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Allstate by 251.8% during the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after purchasing an additional 38,001 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.