Allstate (NYSE:ALL – Get Free Report) had its price objective boosted by equities research analysts at Morgan Stanley from $202.00 to $215.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 11.61% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Wells Fargo & Company cut their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Barclays began coverage on Allstate in a research note on Wednesday, September 4th. They set an “underweight” rating and a $175.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Evercore ISI increased their price objective on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Finally, TD Cowen increased their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.44.
Allstate Trading Down 1.4 %
ALL stock traded down $2.73 during midday trading on Monday, reaching $192.64. 1,163,214 shares of the company traded hands, compared to its average volume of 1,546,520. Allstate has a 52-week low of $121.70 and a 52-week high of $198.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The business has a 50 day moving average of $186.66 and a 200-day moving average of $173.81. The firm has a market capitalization of $50.84 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 1.74 and a beta of 0.48.
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the prior year, the business posted ($4.42) earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Allstate will post 15.19 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Allstate news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.
Institutional Investors Weigh In On Allstate
Institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 1st quarter valued at about $26,000. Versant Capital Management Inc grew its position in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Family Firm Inc. acquired a new stake in shares of Allstate during the 2nd quarter valued at about $38,000. MCF Advisors LLC grew its position in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Allstate by 38.5% during the 1st quarter. Sunbelt Securities Inc. now owns 363 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 101 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.
About Allstate
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.