The Goldman Sachs Group Reaffirms Neutral Rating for Allstate (NYSE:ALL)

Allstate (NYSE:ALL)‘s stock had its “neutral” rating restated by analysts at The Goldman Sachs Group in a report released on Thursday, Marketbeat.com reports. They presently have a $231.00 target price on the insurance provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 8.96% from the company’s current price.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. UBS Group raised their price target on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Keefe, Bruyette & Woods increased their price target on Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Citigroup boosted their target price on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.88.

Allstate Trading Down 1.0%

Allstate stock opened at $212.00 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. Allstate has a 12-month low of $176.00 and a 12-month high of $216.75. The firm has a 50 day moving average of $204.51 and a 200 day moving average of $204.65. The firm has a market capitalization of $55.02 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 0.44 and a beta of 0.23.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $7.67 EPS. As a group, research analysts predict that Allstate will post 18.74 earnings per share for the current year.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALL. Avantax Advisory Services Inc. raised its position in shares of Allstate by 3.1% in the second quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock valued at $4,745,000 after buying an additional 704 shares during the last quarter. Truist Financial Corp raised its holdings in Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after acquiring an additional 5,542 shares during the last quarter. Davis Capital Management acquired a new position in shares of Allstate during the 3rd quarter worth approximately $2,767,000. First Horizon Corp purchased a new stake in shares of Allstate in the third quarter valued at approximately $11,109,000. Finally, Coastal Bridge Advisors LLC increased its holdings in shares of Allstate by 530.6% in the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock valued at $3,901,000 after purchasing an additional 15,292 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.