Allstate (NYSE:ALL) Price Target Raised to $241.00

Allstate (NYSE:ALL) had its target price raised by Keefe, Bruyette & Woods from $232.00 to $241.00 in a report released on Tuesday morning, Marketbeat.com reports. They currently have an underperform rating on the insurance provider’s stock.

A number of other research analysts have also issued reports on the company. TD Cowen lifted their target price on Allstate from $231.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, September 23rd. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. The Goldman Sachs Group decreased their price objective on shares of Allstate from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. Finally, Citigroup raised their price target on Allstate from $215.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Hold” and a consensus target price of $273.48.

Allstate Price Performance

Shares of ALL opened at $266.68 on Tuesday. Allstate has a fifty-two week low of $191.13 and a fifty-two week high of $281.11. The firm’s 50 day moving average price is $246.06 and its 200 day moving average price is $231.16. The company has a market cap of $65.99 billion, a P/E ratio of 6.00, a PEG ratio of 0.56 and a beta of 0.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 EPS for the quarter, beating the consensus estimate of $6.89 by $2.87. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a net margin of 16.57% and a return on equity of 38.37%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $11.17 EPS. On average, research analysts forecast that Allstate will post 37.33 earnings per share for the current fiscal year.

Institutional Trading of Allstate

A number of large investors have recently made changes to their positions in the company. Kendall Capital Management grew its holdings in shares of Allstate by 2.4% during the third quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock worth $384,000 after buying an additional 40 shares during the last quarter. Insight Inv LLC lifted its position in shares of Allstate by 0.3% during the 3rd quarter. Insight Inv LLC now owns 13,682 shares of the insurance provider’s stock valued at $3,035,000 after acquiring an additional 44 shares during the period. Cornerstone Financial Management LLC boosted its stake in shares of Allstate by 24.9% during the 2nd 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. Texas Capital Bank Wealth Management Services Inc grew its holdings in Allstate by 3.2% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,436 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 45 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its stake in Allstate by 2.6% in the 2nd quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock valued at $435,000 after acquiring an additional 46 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.