Allstate (NYSE:ALL) Given New $228.00 Price Target at Barclays

Allstate (NYSE:ALL) had its price objective lifted by investment analysts at Barclays from $221.00 to $228.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the insurance provider’s stock. Barclays‘s price target would indicate a potential downside of 16.10% from the company’s current price.

ALL has been the topic of several other reports. Cantor Fitzgerald increased their price objective on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Jefferies Financial Group lowered their target price on shares of Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Citigroup dropped their target price on shares of Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research report on Friday, October 2nd. Raymond James Financial reissued a “strong-buy” rating and issued a $315.00 price target (up from $300.00) on shares of Allstate in a research note on Tuesday, August 11th. Finally, Argus set a $238.00 price objective on Allstate in a research note on Friday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $270.52.

Allstate Trading Up 1.0%

Allstate stock traded up $2.69 during mid-day trading on Thursday, hitting $271.75. The stock had a trading volume of 1,478,634 shares, compared to its average volume of 1,744,940. The stock has a 50-day simple moving average of $245.85 and a two-hundred day simple moving average of $229.15. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $68.72 billion, a PE ratio of 5.42, a P/E/G ratio of 0.58 and a beta of 0.13. Allstate has a 12 month low of $191.13 and a 12 month high of $281.11.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $2.87. The company had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $15.87 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $11.17 EPS. As a group, sell-side analysts forecast that Allstate will post 36.21 EPS for the current year.

Insiders Place Their Bets

In other news, COO Mario Rizzo sold 56,225 shares of the business’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 owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Dugenske sold 32,996 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several institutional investors have recently modified their holdings of ALL. Kendall Capital Management lifted its stake in Allstate by 2.4% in the third quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock valued at $384,000 after buying an additional 40 shares in the last quarter. Insight Inv LLC boosted its holdings in shares of Allstate by 0.3% in the third quarter. Insight Inv LLC now owns 13,682 shares of the insurance provider’s stock valued at $3,035,000 after buying an additional 44 shares during the period. Cornerstone Financial Management LLC increased its position in shares of Allstate by 24.9% during the second quarter. Cornerstone Financial Management LLC now owns 226 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 45 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Allstate by 2.6% during the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock worth $435,000 after acquiring an additional 46 shares in the last quarter. Finally, Providence Wealth Advisors LLC raised its holdings in shares of Allstate by 0.3% during the third quarter. Providence Wealth Advisors LLC now owns 13,887 shares of the insurance provider’s stock worth $3,107,000 after acquiring an additional 46 shares during the period. Institutional investors own 76.47% of the company’s stock.

Key Stories Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Third-quarter adjusted EPS was $9.76, above analyst estimates of $6.89–$7.03. Revenue was $17.35 billion and increased 0.5% year over year, though reports differed on whether it beat revenue expectations. Allstate Q3 earnings report
• Positive Sentiment: Auto policy counts grew 3.4%, indicating Allstate is continuing to attract customers. Auto policy growth and loss costs
• Neutral Sentiment: Put-option volume was 120% above its daily average. The increase may reflect heightened hedging or bearish bets, but options activity alone does not establish the market’s direction.
• Negative Sentiment: Despite the EPS beat, earnings were below the year-ago $11.17 per share, and a report said net income fell about 45%, citing higher catastrophe losses. This raises questions about how sustainable current earnings are as results normalize. Allstate Q3 net income and catastrophe losses
• Negative Sentiment: Underlying auto loss costs are rising while average premiums are falling, a combination that could pressure underwriting margins even as policy counts grow. Auto policy growth and loss costs

About Allstate

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.