Allstate (NYSE:ALL) Price Target Raised to $220.00

Allstate (NYSE:ALL) had its price objective raised by research analysts at Raymond James from $205.00 to $220.00 in a report issued on Friday, Benzinga reports. The firm presently has a “strong-buy” rating on the insurance provider’s stock. Raymond James’ price objective would indicate a potential upside of 15.59% from the stock’s previous close.

Several other research firms have also weighed in on ALL. Keefe, Bruyette & Woods raised their target price on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. TD Cowen raised their target price on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley lowered their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Bank of America raised their price target on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $195.12.

Allstate Stock Up 1.3 %

Shares of ALL traded up $2.48 during mid-day trading on Friday, reaching $190.32. The company’s stock had a trading volume of 348,775 shares, compared to its average volume of 1,545,650. The business has a fifty day moving average of $182.75 and a 200 day moving average of $172.12. The company has a market cap of $50.23 billion, a price-to-earnings ratio of 42.00, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. Allstate has a 1 year low of $110.74 and a 1 year high of $193.97. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period last year, the company earned ($4.42) earnings per share. Allstate’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts forecast that Allstate will post 15.2 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders 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

Several institutional investors and hedge funds have recently made changes to their positions in the company. MRA Advisory Group acquired a new position in shares of Allstate in the 3rd quarter valued at $200,000. Park Avenue Securities LLC lifted its position in Allstate by 16.5% during the 3rd quarter. Park Avenue Securities LLC now owns 7,233 shares of the insurance provider’s stock worth $1,372,000 after buying an additional 1,024 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its position in Allstate by 10.6% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 9,271 shares of the insurance provider’s stock worth $1,758,000 after buying an additional 889 shares in the last quarter. Czech National Bank lifted its position in Allstate by 7.0% during the 3rd quarter. Czech National Bank now owns 53,787 shares of the insurance provider’s stock worth $10,201,000 after buying an additional 3,496 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in Allstate by 97.6% during the 3rd quarter. Central Pacific Bank Trust Division now owns 10,526 shares of the insurance provider’s stock worth $1,996,000 after buying an additional 5,200 shares in the last quarter. 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.