Allstate (NYSE:ALL) Hits New 12-Month High After Analyst Upgrade

The Allstate Co. (NYSE:ALL)’s share price hit a new 52-week high during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $215.00 to $216.00. UBS Group currently has a buy rating on the stock. Allstate traded as high as $195.87 and last traded at $195.65, with a volume of 1422478 shares trading hands. The stock had previously closed at $193.01.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Morgan Stanley dropped their price target on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.06.

Insider Transactions at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors have recently added to or reduced their stakes in ALL. Artemis Investment Management LLP bought a new stake in Allstate in the first quarter valued at approximately $95,764,000. AQR Capital Management LLC boosted its holdings in Allstate by 181.6% in the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after acquiring an additional 464,337 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Allstate by 3,839.0% in the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after acquiring an additional 405,553 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Allstate by 757.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 340,274 shares of the insurance provider’s stock valued at $54,328,000 after acquiring an additional 300,572 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC bought a new stake in Allstate in the first quarter valued at approximately $43,909,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

The company has a fifty day moving average of $185.67 and a 200 day moving average of $173.49. The firm has a market capitalization of $51.63 billion, a P/E ratio of 43.19, a PEG ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results 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. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.42) EPS. Sell-side analysts predict that The Allstate Co. will post 15.19 earnings per share for the current year.

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.