Allstate (NYSE:ALL) Price Target Raised to $226.00

Allstate (NYSE:ALL) had its price target upped by analysts at Bank of America from $213.00 to $226.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price target points to a potential upside of 32.05% from the company’s previous close.

A number of other research analysts have also recently commented on ALL. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Roth Mkm raised their price objective on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Morgan Stanley reduced their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research note on Friday, July 5th. Finally, The Goldman Sachs Group raised their price objective on Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.24.

Allstate Trading Down 1.4 %

Shares of ALL stock opened at $171.15 on Thursday. The stock has a market capitalization of $45.17 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 1.82 and a beta of 0.48. Allstate has a 1 year low of $104.29 and a 1 year high of $179.93. The company’s fifty day simple moving average is $164.17 and its two-hundred day simple moving average is $163.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.30) earnings per share. As a group, analysts anticipate that Allstate will post 13.64 earnings per share for the current year.

Insider Activity

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Allstate in the 1st quarter worth approximately $25,000. Rise Advisors LLC bought a new stake in shares of Allstate during the 1st quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 1st quarter valued at $26,000. Private Wealth Management Group LLC purchased a new position in shares of Allstate during the 4th quarter valued at $25,000. Finally, Versant Capital Management Inc lifted its stake 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 buying an additional 78 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.