Jefferies Financial Group Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its target price raised by Jefferies Financial Group from $231.00 to $267.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other research analysts have also recently weighed in on ALL. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Bank of America lifted their target price on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Piper Sandler boosted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, UBS Group raised their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.56.

Allstate Stock Up 0.3 %

NYSE:ALL opened at $197.52 on Friday. Allstate has a 52 week low of $129.17 and a 52 week high of $201.00. The stock’s fifty day moving average is $189.09 and its two-hundred day moving average is $175.87. The stock has a market capitalization of $52.30 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Research analysts anticipate that Allstate will post 15.32 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’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 directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the company’s 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 transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allstate

Large investors have recently made changes to their positions in the stock. German American Bancorp Inc. acquired a new stake in shares of Allstate in the 3rd quarter worth approximately $225,000. Trustmark National Bank Trust Department boosted its position in Allstate by 10.7% during the third quarter. Trustmark National Bank Trust Department now owns 9,417 shares of the insurance provider’s stock worth $1,786,000 after purchasing an additional 911 shares in the last quarter. Intech Investment Management LLC boosted its position in Allstate by 6.0% during the third quarter. Intech Investment Management LLC now owns 147,466 shares of the insurance provider’s stock worth $27,967,000 after purchasing an additional 8,412 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Allstate by 0.5% in the third quarter. Moors & Cabot Inc. now owns 18,951 shares of the insurance provider’s stock valued at $3,596,000 after purchasing an additional 97 shares during the last quarter. Finally, EagleClaw Capital Managment LLC purchased a new position in shares of Allstate in the third quarter valued at $207,000. Hedge funds and other 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.