Allstate (NYSE:ALL) Hits New 1-Year High on Analyst Upgrade

The Allstate Co. (NYSE:ALL)’s stock price hit a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from $231.00 to $267.00. Jefferies Financial Group currently has a buy rating on the stock. Allstate traded as high as $199.20 and last traded at $198.89, with a volume of 22936 shares changing hands. The stock had previously closed at $196.90.

A number of other analysts have also recently weighed in on the company. TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Evercore ISI increased their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. BMO Capital Markets upped their price target on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lifted their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.56.

Insider Activity at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction dated 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 directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. 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 can be accessed through this hyperlink. 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 completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated 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 transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,530 shares of company stock valued at $34,967,665 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allstate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after buying an additional 472,040 shares during the period. Raymond James & Associates boosted its position in Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after acquiring an additional 145,986 shares during the period. Dimensional Fund Advisors LP boosted its position in Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after acquiring an additional 47,038 shares during the period. Pathway Financial Advisers LLC grew its stake in Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Allstate by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after purchasing an additional 31,789 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 0.3 %

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $52.44 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The business’s 50-day moving average price is $189.26 and its 200-day moving average price is $176.05.

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

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.