Morgan Stanley Increases Allstate (NYSE:ALL) Price Target to $215.00

Allstate (NYSE:ALL) had its price target upped by stock analysts at Morgan Stanley from $202.00 to $215.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s target price indicates a potential upside of 11.53% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Piper Sandler upped their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Evercore ISI raised their price objective on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $206.44.

Allstate Stock Up 0.1 %

Shares of NYSE:ALL opened at $192.78 on Monday. The firm has a market capitalization of $50.88 billion, a P/E ratio of 42.56, a P/E/G ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $187.50 and a 200-day moving average price of $174.10. Allstate has a 52-week low of $121.70 and a 52-week high of $198.79.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $14.04 billion. During the same quarter in the prior year, the company earned ($4.42) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Allstate will post 15.19 EPS for the current fiscal year.

Insider Transactions at Allstate

In related news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction that occurred on 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 owns 19,163 shares in the company, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,530 shares of company stock worth $34,967,665 over the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. BDF Gestion purchased a new stake in shares of Allstate in the 2nd quarter worth $3,051,000. BNP Paribas Financial Markets increased its position in Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after buying an additional 78,316 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Allstate in the second quarter worth about $476,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Allstate by 12.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after buying an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Allstate by 251.8% during the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after acquiring an additional 38,001 shares during the period. 76.47% of the stock is 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.