Allstate (NYSE:ALL) PT Raised to $233.00 at Bank of America

Allstate (NYSE:ALL) had its price target hoisted by Bank of America from $216.00 to $233.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

ALL has been the subject of several other reports. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods raised their target price on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Piper Sandler raised their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. The Goldman Sachs Group raised their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $206.44.

Allstate Price Performance

Allstate stock opened at $192.64 on Friday. The stock’s 50 day moving average is $187.08 and its 200 day moving average is $173.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $50.84 billion, a P/E ratio of 42.53, a P/E/G ratio of 1.74 and a beta of 0.48. Allstate has a one year low of $121.70 and a one year high of $198.79.

Allstate (NYSE:ALL) last issued its earnings results 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 company 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 revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.42) earnings per share. As a group, research analysts expect that Allstate will post 15.19 EPS for the current year.

Insider Activity

In related news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Allstate

A number of hedge funds have recently bought and sold shares of ALL. Rise Advisors LLC purchased a new position in Allstate in the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the 1st quarter worth approximately $26,000. Versant Capital Management Inc increased 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 worth $30,000 after purchasing an additional 78 shares during the period. Family Firm Inc. purchased a new position in Allstate in the 2nd quarter worth approximately $38,000. Finally, MCF Advisors LLC increased its stake in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the period. Institutional investors 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.