Allstate (NYSE:ALL) Given New $266.00 Price Target at Keefe, Bruyette & Woods

Allstate (NYSE:ALL) had its price objective increased by Keefe, Bruyette & Woods from $260.00 to $266.00 in a research note published on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Several other brokerages also recently commented on ALL. JPMorgan Chase & Co. raised their price objective on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Finally, TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Stock Performance

Shares of Allstate stock opened at $213.74 on Thursday. The company has a market capitalization of $55.02 billion, a PE ratio of 4.72, a PEG ratio of 0.41 and a beta of 0.21. Allstate has a 12 month low of $188.08 and a 12 month high of $222.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $210.90 and its 200 day simple moving average is $206.26.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.53 EPS. On average, research analysts predict that Allstate will post 28.26 EPS for the current year.

Insider Activity

In other Allstate news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of ALL. MV Capital Management Inc. bought a new position in shares of Allstate in the 4th quarter valued at about $25,000. Dorato Capital Management bought a new position in shares of Allstate in the 4th quarter valued at about $27,000. Navalign LLC bought a new position in shares of Allstate in the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. grew its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.