Allstate (NYSE:ALL) Price Target Raised to $240.00

Allstate (NYSE:ALL) had its target price boosted by Keefe, Bruyette & Woods from $235.00 to $240.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets increased their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Stock Up 1.9 %

ALL opened at $192.97 on Tuesday. The firm has a 50 day moving average price of $191.46 and a 200 day moving average price of $189.48. The company has a market cap of $51.10 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Allstate has a 1 year low of $153.87 and a 1 year high of $209.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

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

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allstate

Several large investors have recently added to or reduced their stakes in the stock. SPC Financial Inc. grew its holdings in Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after acquiring an additional 54 shares during the period. Lake Street Advisors Group LLC boosted its position in Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after acquiring an additional 54 shares during the period. Chicago Partners Investment Group LLC boosted its position in Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares during the period. Carmichael Hill & Associates Inc. boosted its position in Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 60 shares during the period. Finally, Apella Capital LLC lifted its holdings in shares of Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after buying an additional 60 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.