Allstate (NYSE:ALL) PT Raised to $220.00

Allstate (NYSE:ALL) had its target price boosted by equities researchers at Raymond James from $205.00 to $220.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “strong-buy” rating on the insurance provider’s stock. Raymond James’ target price points to a potential upside of 15.44% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research report on Wednesday, August 14th. Bank of America lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Piper Sandler lifted their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Morgan Stanley decreased their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $195.12.

Allstate Trading Up 1.5 %

Shares of ALL opened at $190.57 on Friday. Allstate has a 1-year low of $110.74 and a 1-year high of $193.97. The company has a 50-day moving average of $183.18 and a 200 day moving average of $172.38. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the business posted ($4.42) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, research analysts expect that Allstate will post 15.2 EPS for the current year.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 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 approximately $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 238,305 shares of company stock worth $43,082,657. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lighthouse Investment Partners LLC acquired a new stake in Allstate in the fourth quarter valued at $5,927,000. BDF Gestion acquired a new stake in Allstate in the second quarter valued at $3,051,000. BNP Paribas Financial Markets lifted its holdings in Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after acquiring an additional 78,316 shares during the period. OFI Invest Asset Management acquired a new stake in Allstate in the second quarter valued at $476,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Allstate by 12.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after acquiring an additional 5,586 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.