Allstate (NYSE:ALL) Earns Outperform Rating from Keefe, Bruyette & Woods

Allstate (NYSE:ALL)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a report released on Friday, Benzinga reports. They currently have a $194.00 price objective on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 21.68% from the stock’s previous close.

Several other research analysts have also recently issued reports on ALL. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Piper Sandler upped their price objective on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. upped their price objective on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.88.

Allstate Stock Performance

Shares of Allstate stock opened at $159.44 on Friday. The stock has a market cap of $42.08 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 1.88 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a 1 year low of $100.57 and a 1 year high of $177.37. The firm’s 50-day moving average is $164.76 and its 200 day moving average is $160.46.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to analyst estimates of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.30) EPS. Sell-side analysts anticipate that Allstate will post 12.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Allstate during the first quarter worth about $25,000. Private Wealth Management Group LLC acquired a new stake in Allstate in the 4th quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Allstate during the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the 1st quarter valued at approximately $26,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Allstate during the fourth quarter worth $36,000. 76.47% of the stock is 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.