Allstate (NYSE:ALL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Allstate (NYSE:ALL) had its price target increased by Keefe, Bruyette & Woods from $250.00 to $254.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 23.35% from the company’s previous close.

Other analysts have also recently issued reports about the company. Mizuho initiated coverage on Allstate in a research note on Monday, December 15th. They issued an “outperform” rating and a $254.00 price objective on the stock. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Roth Capital upped their price objective on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. BMO Capital Markets boosted their price target on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $215.00 price target (down previously from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.21.

Allstate Price Performance

Shares of Allstate stock traded up $0.35 on Tuesday, hitting $205.92. 372,191 shares of the company were exchanged, compared to its average volume of 1,116,668. Allstate has a 1-year low of $176.00 and a 1-year high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $53.89 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The company has a 50-day moving average price of $205.86 and a 200 day moving average price of $203.00.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. Allstate’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.91 earnings per share. As a group, sell-side analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 3,786 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $215.13, for a total value of $814,482.18. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,651,973.98. The trade was a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 28,807 shares of company stock worth $6,198,726 over the last three months. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently added to or reduced their stakes in ALL. Avantax Advisory Services Inc. grew its position in Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after purchasing an additional 704 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Allstate by 3.8% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 53,802 shares of the insurance provider’s stock worth $10,831,000 after buying an additional 1,959 shares in the last quarter. Commonwealth Retirement Investments LLC boosted its stake in Allstate by 103.5% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after buying an additional 6,590 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Allstate in the 1st quarter worth about $22,405,000. Finally, McGowan Group Asset Management Inc. grew its stake in Allstate by 1,020.8% during the second quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock worth $6,979,000 after buying an additional 31,573 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.