Allstate (NYSE:ALL) Price Target Raised to $340.00

Allstate (NYSE:ALL) had its target price boosted by Bank of America from $336.00 to $340.00 in a research report sent to investors on Monday. The firm currently has a buy rating on the insurance provider’s stock.

ALL has been the subject of several other research reports. Keefe, Bruyette & Woods cut their price objective on Allstate from $250.00 to $232.00 and set an “underperform” rating for the company in a report on Monday. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Monday, September 28th. Mizuho dropped their price target on shares of Allstate from $300.00 to $295.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. Finally, Argus set a $238.00 price target on shares of Allstate in a report on Friday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Hold” and an average price target of $270.19.

Allstate Stock Performance

Shares of NYSE ALL opened at $236.00 on Monday. The stock has a fifty day moving average price of $247.88 and a two-hundred day moving average price of $234.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $59.67 billion, a P/E ratio of 4.71, a PEG ratio of 0.53 and a beta of 0.13. Allstate has a 1 year low of $188.08 and a 1 year high of $277.22.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the firm earned $5.94 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts forecast that Allstate will post 35.83 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. raised its holdings in shares of Allstate by 8.1% during the third quarter. Mather Group LLC. now owns 6,950 shares of the insurance provider’s stock valued at $1,516,000 after acquiring an additional 523 shares during the period. Fortitude Family Office LLC boosted its stake in Allstate by 84.6% in the 3rd quarter. Fortitude Family Office LLC now owns 432 shares of the insurance provider’s stock worth $96,000 after purchasing an additional 198 shares during the period. Weil Company Inc. boosted its stake in Allstate by 17.2% in the 3rd quarter. Weil Company Inc. now owns 2,409 shares of the insurance provider’s stock worth $534,000 after purchasing an additional 353 shares during the period. Mezzasalma Advisors LLC boosted its stake in Allstate by 22.2% in the 3rd quarter. Mezzasalma Advisors LLC now owns 1,319 shares of the insurance provider’s stock worth $293,000 after purchasing an additional 240 shares during the period. Finally, Triumph Capital Management grew its position in Allstate by 85.5% during the 3rd quarter. Triumph Capital Management now owns 3,952 shares of the insurance provider’s stock worth $877,000 after purchasing an additional 1,822 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.