Allstate (NYSE:ALL) PT Raised to $231.00

Allstate (NYSE:ALL) had its price target hoisted by equities research analysts at Jefferies Financial Group from $217.00 to $231.00 in a research 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 suggests a potential upside of 24.42% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ALL. Bank of America lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler boosted their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. TD Cowen lifted their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group lifted their price objective on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets upped their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average price target of $199.24.

Allstate Price Performance

Allstate stock opened at $185.66 on Wednesday. The stock’s 50 day moving average is $183.88 and its 200-day moving average is $172.80. The company has a market capitalization of $49.00 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 1.81 and a beta of 0.48. Allstate has a 12 month low of $113.04 and a 12 month high of $193.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

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

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Suren Gupta sold 45,775 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. 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 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in Allstate by 6,673.1% in the third quarter. Exchange Traded Concepts LLC now owns 5,283 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 5,205 shares during the last quarter. Carnegie Investment Counsel bought a new stake in Allstate in the 3rd quarter valued at about $224,000. Ritholtz Wealth Management raised its holdings in Allstate by 0.7% during the 3rd quarter. Ritholtz Wealth Management now owns 14,410 shares of the insurance provider’s stock valued at $2,733,000 after acquiring an additional 101 shares during the period. Meyer Handelman Co. grew its holdings in Allstate by 1.2% during the 3rd quarter. Meyer Handelman Co. now owns 174,510 shares of the insurance provider’s stock valued at $33,096,000 after buying an additional 2,125 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Allstate by 338.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,684 shares of the insurance provider’s stock valued at $319,000 after buying an additional 1,300 shares during the period. Institutional investors 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.