Allstate (NYSE:ALL) Price Target Raised to $187.00

Allstate (NYSE:ALL) had its price objective increased by research analysts at Barclays from $175.00 to $187.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Barclays‘s price objective would suggest a potential downside of 0.61% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised their price target on shares of Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Raymond James raised their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Bank of America raised their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Morgan Stanley raised their target price on shares of Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. 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. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $207.19.

Allstate Trading Down 0.7 %

Shares of NYSE:ALL traded down $1.29 during trading on Thursday, reaching $188.15. 2,021,742 shares of the company were exchanged, compared to its average volume of 1,537,895. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day simple moving average is $188.69 and its 200-day simple moving average is $174.95. Allstate has a 12-month low of $125.63 and a 12-month high of $198.79. The firm has a market capitalization of $49.66 billion, a PE ratio of 41.69, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. Allstate’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. On average, research analysts anticipate that Allstate will post 15.19 EPS for the current year.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction on 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 sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their position. 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BDF Gestion purchased a new position in Allstate in the second quarter worth approximately $3,051,000. BNP Paribas Financial Markets increased its holdings in shares of Allstate by 55.8% in the 1st quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock valued at $37,825,000 after acquiring an additional 78,316 shares during the period. OFI Invest Asset Management acquired a new position in Allstate in the 2nd quarter valued at $476,000. Envestnet Portfolio Solutions Inc. increased its stake in Allstate by 12.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock valued at $8,717,000 after buying an additional 5,586 shares during the period. Finally, SG Americas Securities LLC increased its stake in Allstate by 251.8% in the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after buying an additional 38,001 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.