Allstate (NYSE:ALL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Allstate (NYSE:ALL) had its target price boosted by research analysts at Keefe, Bruyette & Woods from $235.00 to $243.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 34.17% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Raymond James raised their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. BMO Capital Markets lifted their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Bank of America increased their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group increased their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.06.

Allstate Price Performance

ALL stock opened at $181.12 on Friday. The firm has a 50 day simple moving average of $195.84 and a two-hundred day simple moving average of $185.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $47.96 billion, a PE ratio of 11.73, a P/E/G ratio of 1.70 and a beta of 0.52. Allstate has a one year low of $148.23 and a one year high of $209.88.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. On average, analysts predict that Allstate will post 16.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently made changes to their positions in ALL. Pathway Financial Advisers LLC lifted its position in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares in the last quarter. AQR Capital Management LLC boosted its stake in 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 acquiring an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Allstate during the third quarter worth about $77,819,000. Finally, Los Angeles Capital Management LLC grew its holdings in Allstate by 688.4% in the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock worth $87,292,000 after purchasing an additional 401,901 shares during the period. 76.47% of the stock is currently owned by institutional investors.

About Allstate

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.