Allstate (NYSE:ALL) PT Raised to $233.00 at Bank of America

Allstate (NYSE:ALL) had its target price raised by Bank of America from $216.00 to $233.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other analysts have also weighed in on the stock. Evercore ISI upped their price target on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Raymond James upped their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Piper Sandler boosted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Jefferies Financial Group raised their price objective on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. One 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 company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $206.44.

Allstate Stock Down 1.4 %

Shares of Allstate stock opened at $192.64 on Friday. The firm has a market cap of $50.84 billion, a P/E ratio of 42.53, a P/E/G ratio of 1.74 and a beta of 0.48. The business has a 50-day moving average price of $187.08 and a 200 day moving average price of $173.96. Allstate has a fifty-two week low of $121.70 and a fifty-two week high of $198.79. 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 posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Allstate’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted ($4.42) EPS. On average, sell-side analysts forecast that Allstate will post 15.19 earnings per share for the current fiscal year.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the firm’s 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 transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently added to or reduced their stakes in the business. Artemis Investment Management LLP acquired a new stake in shares of Allstate during the first quarter worth $95,764,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Allstate by 18.7% during 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 in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Allstate by 3,839.0% during the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after buying an additional 405,553 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Allstate by 757.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 340,274 shares of the insurance provider’s stock worth $54,328,000 after buying an additional 300,572 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.