Jefferies Financial Group Boosts Allstate (NYSE:ALL) Price Target to $231.00

Allstate (NYSE:ALL) had its price target raised by investment analysts at Jefferies Financial Group from $217.00 to $231.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 25.22% from the company’s current price.

ALL has been the subject of a number of other reports. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Piper Sandler lifted their target price 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. Barclays assumed coverage on shares of Allstate in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group lifted their price target on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.41.

Allstate Price Performance

Shares of ALL stock traded up $1.60 during trading hours on Wednesday, reaching $184.47. The stock had a trading volume of 478,759 shares, compared to its average volume of 1,547,011. The stock’s fifty day simple moving average is $183.60 and its 200 day simple moving average is $172.72. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $48.68 billion, a PE ratio of 40.77, a PEG ratio of 1.81 and a beta of 0.48. Allstate has a 12 month low of $113.04 and a 12 month high of $193.97.

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

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of the company’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 completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the firm’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 value of $16,140,600.00. Following the transaction, the chief executive officer now 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 quarter, insiders have sold 238,305 shares of company stock valued at $43,082,657. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allstate

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Abacus Planning Group Inc. raised its position in Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares during the period. Premier Path Wealth Partners LLC increased its stake in Allstate by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 61 shares during the period. Aprio Wealth Management LLC boosted its stake in shares of Allstate by 5.9% during the third quarter. Aprio Wealth Management LLC now owns 1,360 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 76 shares during the period. Everpar Advisors LLC grew its holdings in shares of Allstate by 3.3% in the third quarter. Everpar Advisors LLC now owns 2,434 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 77 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors 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.