Keefe, Bruyette & Woods Has Lowered Expectations for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its price objective dropped by Keefe, Bruyette & Woods from $250.00 to $232.00 in a report issued on Monday, Benzinga reports. The firm currently has an “underperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 1.88% from the stock’s previous close.

Several other research analysts also recently commented on ALL. Mizuho cut their target price on Allstate from $300.00 to $295.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Roth Capital set a $300.00 price target on Allstate in a research report on Thursday, August 6th. Argus set a $238.00 price target on shares of Allstate in a report on Friday, August 28th. Raymond James Financial restated a “strong-buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Allstate in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company upgraded shares of Allstate from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $250.00 to $236.00 in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Hold” and a consensus price target of $270.19.

Allstate Trading Up 1.7%

NYSE:ALL opened at $236.45 on Monday. Allstate has a 1 year low of $188.08 and a 1 year high of $277.22. The stock’s fifty day moving average price is $248.44 and its two-hundred day moving average price is $234.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $59.79 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.52 and a beta of 0.13.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $5.94 earnings per share. As a group, analysts expect that Allstate will post 35.83 EPS for the current year.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On Allstate

Hedge funds have recently added to or reduced their stakes in the company. Signal Advisors Wealth LLC lifted its stake in Allstate by 36.5% during the third quarter. Signal Advisors Wealth LLC now owns 4,611 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 1,233 shares during the last quarter. Krilogy Financial LLC boosted its holdings in shares of Allstate by 106.7% in the 3rd quarter. Krilogy Financial LLC now owns 10,754 shares of the insurance provider’s stock worth $2,198,000 after purchasing an additional 5,552 shares in the last quarter. First County Bank CT increased its position in shares of Allstate by 5.7% during the 3rd quarter. First County Bank CT now owns 1,638 shares of the insurance provider’s stock valued at $363,000 after purchasing an additional 89 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Allstate by 35.0% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 16,679 shares of the insurance provider’s stock valued at $3,847,000 after purchasing an additional 4,323 shares during the last quarter. Finally, JGP Wealth Management LLC increased its position in shares of Allstate by 10.1% during the 3rd quarter. JGP Wealth Management LLC now owns 1,051 shares of the insurance provider’s stock valued at $233,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate News Roundup

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Bank of America raised its price target for Allstate to $340 from $336 and maintained a Buy rating, implying substantial upside from recent trading levels. Bank of America raises target for Allstate stock
• Positive Sentiment: Wells Fargo upgraded Allstate to Equal Weight from Underweight, reducing a source of bearish analyst pressure even though the new rating remains neutral. Wells Fargo upgrades Allstate
• Positive Sentiment: Allstate scheduled its next quarterly results for November 4. The announcement gives investors a near-term catalyst to assess premium growth, claims trends and profitability. Allstate schedules November results
• Neutral Sentiment: Allstate shares closed at approximately $232.60 in the latest session, gaining while the overall market declined, indicating relative investor strength. Allstate ascends while market falls
• Negative Sentiment: Morgan Stanley cut its price target to $240, while Keefe, Bruyette & Woods lowered its target to $232 and assigned an Underperform rating. These calls suggest limited upside and reflect concerns about valuation or operating performance. Morgan Stanley cuts Allstate target
• Negative Sentiment: Allstate’s Protection Services revenue grew 7.8% in the second quarter, but declining earnings and rising claims costs raise questions about whether growth can translate into higher margins. Allstate Protection Services margins
• Negative Sentiment: Following Hurricane Isaias, Allstate is providing mobile claims centers and other customer support in Alabama and the Florida Keys. The response supports retention and customer service, but storm-related claims could increase catastrophe losses and pressure near-term results. Allstate supports customers after Hurricane Isaias

Allstate Company Profile

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.