Allstate (NYSE:ALL) PT Raised to $190.00

Allstate (NYSE:ALL) had its price objective boosted by stock analysts at Morgan Stanley from $187.00 to $190.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s price target suggests a potential upside of 15.76% from the company’s current price.

Other equities analysts have also issued reports about the stock. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and upped their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Evercore ISI increased their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group increased their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. Roth Mkm increased their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, BMO Capital Markets increased their price objective on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $173.71.

Allstate Price Performance

Shares of ALL stock opened at $164.13 on Monday. Allstate has a 1 year low of $100.57 and a 1 year high of $174.57. The firm’s 50 day moving average is $163.35 and its 200-day moving average is $146.33. The firm has a market capitalization of $43.18 billion, a price-to-earnings ratio of -132.36, a PEG ratio of 0.41 and a beta of 0.52. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same period in the prior year, the business earned ($1.36) earnings per share. Allstate’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Allstate will post 13.41 EPS for the current fiscal year.

Insider Transactions at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in Allstate in the first quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the first quarter valued at $26,000. Private Wealth Management Group LLC acquired a new stake in Allstate in the fourth quarter valued at $25,000. Garner Asset Management Corp acquired a new stake in Allstate in the fourth quarter valued at $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Allstate in the third quarter valued at $25,000. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.