Allstate (NYSE:ALL) PT Raised to $233.00

Allstate (NYSE:ALL) had its price target hoisted by equities research analysts at Bank of America from $216.00 to $233.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective would indicate a potential upside of 19.26% from the stock’s current price.

Several other equities research analysts also recently weighed in on ALL. TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Raymond James boosted their target price on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Morgan Stanley lowered their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price target on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $202.59.

Allstate Price Performance

Shares of Allstate stock opened at $195.37 on Friday. The stock has a market cap of $51.56 billion, a price-to-earnings ratio of 43.13, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The stock has a 50 day moving average price of $186.66 and a 200-day moving average price of $173.81. Allstate has a one year low of $121.70 and a one year high of $198.79. 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 (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business earned ($4.42) EPS. Equities analysts expect that Allstate will post 15.19 EPS for the current year.

Insider Activity

In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on 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 transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 192,530 shares of company stock worth $34,967,665. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of the stock. Artemis Investment Management LLP acquired a new position in Allstate during the 1st quarter valued at approximately $95,764,000. Allspring Global Investments Holdings LLC increased its position in shares of Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares during the period. AQR Capital Management LLC raised its stake in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares during the last quarter. Acadian Asset Management LLC lifted its position in Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after acquiring an additional 405,553 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Allstate by 757.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 340,274 shares of the insurance provider’s stock worth $54,328,000 after acquiring an additional 300,572 shares during the period. Institutional investors and hedge funds 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.