Piper Sandler Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its price objective increased by analysts at Piper Sandler from $206.00 to $244.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 17.20% from the stock’s current price.

Several other research analysts have also issued reports on ALL. Barclays increased their target price on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. UBS Group boosted their target price on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Evercore ISI increased their price target on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $217.19.

Allstate Stock Up 0.2 %

Shares of ALL opened at $208.19 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. Allstate has a 52 week low of $134.17 and a 52 week high of $209.88. The stock has a market capitalization of $55.13 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.80 and a beta of 0.48. The stock has a fifty day moving average of $192.34 and a 200-day moving average of $178.57.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for 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 company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. As a group, sell-side analysts anticipate that Allstate will post 16.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the business’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 transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allstate

Several hedge funds have recently bought and sold shares of the stock. BDF Gestion purchased a new stake in shares of Allstate during the 2nd quarter valued at about $3,051,000. OFI Invest Asset Management bought a new stake in shares of Allstate in the 2nd quarter valued at approximately $476,000. Diversified Trust Co lifted its stake in shares of Allstate by 505.3% in the 2nd quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock valued at $1,265,000 after purchasing an additional 6,614 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Allstate by 351.6% in the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after purchasing an additional 50,780 shares during the period. Finally, Eagle Asset Management Inc. increased its position 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 purchasing an additional 2,888 shares during the last quarter. Hedge funds and other institutional investors 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.