Allstate (NYSE:ALL) Price Target Raised to $240.00 at Keefe, Bruyette & Woods

Allstate (NYSE:ALL) had its price objective lifted by stock analysts at Keefe, Bruyette & Woods from $235.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 27.46% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Bank of America raised their price target on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays dropped their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their price objective on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Performance

Shares of NYSE ALL traded up $1.72 during mid-day trading on Tuesday, hitting $188.30. 427,452 shares of the company were exchanged, compared to its average volume of 1,718,513. The stock has a 50 day simple moving average of $192.05 and a 200-day simple moving average of $189.34. The firm has a market cap of $49.86 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. Allstate has a 1-year low of $153.87 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, sell-side analysts forecast that Allstate will post 18.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Allstate by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after buying an additional 28,584 shares during the period. Ameritas Advisory Services LLC raised its holdings in shares of Allstate by 117.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock valued at $944,000 after buying an additional 2,643 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of Allstate by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after buying an additional 3,800 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after buying an additional 100,311 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in shares of Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,888 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

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.