Morgan Stanley Raises Allstate (NYSE:ALL) Price Target to $215.00

Allstate (NYSE:ALL) had its target price upped by Morgan Stanley from $202.00 to $215.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI raised their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. TD Cowen increased their target price on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Barclays initiated coverage on shares of Allstate in a report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.44.

Allstate Stock Performance

Shares of Allstate stock opened at $192.79 on Monday. Allstate has a 52 week low of $122.47 and a 52 week high of $198.79. The company has a market capitalization of $50.88 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The stock’s fifty day moving average is $187.73 and its two-hundred day moving average is $174.23. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the firm posted ($4.42) EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts expect that Allstate will post 15.19 earnings per share for the current year.

Insider Buying and Selling at Allstate

In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate 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 completion of the transaction, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALL. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 1st quarter worth approximately $26,000. Versant Capital Management Inc boosted its holdings in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. acquired a new stake in Allstate during the second quarter valued at $38,000. MCF Advisors LLC increased its holdings in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Allstate in the second quarter worth about $58,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.