Allstate (NYSE:ALL) Given New $281.00 Price Target at Mizuho

Allstate (NYSE:ALL) had its price target raised by analysts at Mizuho from $255.00 to $281.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Mizuho’s target price would suggest a potential upside of 35.40% from the stock’s previous close.

A number of other research firms have also recently issued reports on ALL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a report on Wednesday, January 21st. Evercore set a $225.00 price target on Allstate in a research report on Wednesday, January 7th. Roth Mkm boosted their price target on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday. Finally, William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $240.13.

Allstate Stock Down 3.6%

Shares of ALL stock opened at $207.54 on Monday. The stock’s fifty day moving average price is $203.88 and its 200 day moving average price is $203.88. Allstate has a 1-year low of $176.00 and a 1-year high of $216.75. The company has a market cap of $54.31 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter last year, the company earned $7.67 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts expect 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 21,871 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 48,400 shares of company stock valued at $10,313,256 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Navalign LLC acquired a new stake in Allstate in the 4th quarter valued at approximately $27,000. Barnes Dennig Private Wealth Management LLC raised its position in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Dorato Capital Management purchased a new stake in shares of Allstate in the 4th quarter valued at $27,000. Finally, Palisade Asset Management LLC purchased a new position in Allstate during the 3rd quarter valued at about $31,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.