Allstate (NYSE:ALL) PT Lowered to $216.00 at Bank of America

Allstate (NYSE:ALL) had its price target cut by equities research analysts at Bank of America from $226.00 to $216.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price target would indicate a potential upside of 14.75% from the company’s previous close.

A number of other research analysts have also issued reports on ALL. Evercore ISI raised their price objective on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Barclays initiated coverage on shares of Allstate in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price objective on the stock. Raymond James raised their target price 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, StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $199.24.

Allstate Stock Performance

NYSE ALL opened at $188.24 on Thursday. The firm’s fifty day moving average price is $184.04 and its two-hundred day moving average price is $172.89. The stock has a market cap of $49.70 billion, a PE ratio of 17.19, a PEG 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. Allstate has a fifty-two week low of $113.04 and a fifty-two week high of $193.97.

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

Insider Buying and Selling

In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. This 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 accessible through this link. In related news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, 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 have sold a total of 238,305 shares of company stock valued at $43,082,657 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALL. Rise Advisors LLC acquired a new stake in shares of Allstate in the 1st quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate during the 1st quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Allstate in the second quarter worth approximately $38,000. Finally, MCF Advisors LLC lifted its holdings 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 purchasing an additional 84 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.