Allstate (NYSE:ALL) Given New $228.00 Price Target at Barclays

Allstate (NYSE:ALL) had its price objective hoisted by equities researchers at Barclays from $221.00 to $228.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Barclays‘s price objective points to a potential downside of 16.10% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company raised shares of Allstate from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $250.00 to $236.00 in a report on Monday, October 12th. Cantor Fitzgerald increased their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. BMO Capital Markets raised their price objective on shares of Allstate from $250.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Jefferies Financial Group lowered their price objective on Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Finally, TD Cowen boosted their target price on Allstate from $231.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $270.52.

Allstate Stock Performance

Shares of NYSE ALL traded up $2.69 during mid-day trading on Thursday, hitting $271.75. 1,478,634 shares of the company were exchanged, compared to its average volume of 1,744,940. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $245.85 and a 200-day simple moving average of $229.15. Allstate has a 1-year low of $191.13 and a 1-year high of $281.11. The firm has a market cap of $68.72 billion, a price-to-earnings ratio of 5.42, a price-to-earnings-growth ratio of 0.58 and a beta of 0.13.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $2.87. The company had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $11.17 EPS. On average, sell-side analysts forecast that Allstate will post 36.21 EPS for the current fiscal year.

Insider Transactions at Allstate

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

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently made changes to their positions in the business. Gables Capital Management Inc. bought a new stake in Allstate during the 2nd quarter worth about $26,000. Allied Private Wealth LLC bought a new position in shares of Allstate in the second quarter worth about $29,000. Kelleher Financial Advisors bought a new position in shares of Allstate in the second quarter worth about $28,000. Transamerica Financial Advisors LLC acquired a new position in shares of Allstate during the second quarter worth approximately $32,000. Finally, Highland Investment Advisors LLC acquired a new position in shares of Allstate during the second quarter worth approximately $31,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate News Summary

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Third-quarter adjusted EPS was $9.76, above analyst estimates of $6.89–$7.03. Revenue was $17.35 billion and increased 0.5% year over year, though reports differed on whether it beat revenue expectations. Allstate Q3 earnings report
• Positive Sentiment: Auto policy counts grew 3.4%, indicating Allstate is continuing to attract customers. Auto policy growth and loss costs
• Neutral Sentiment: Put-option volume was 120% above its daily average. The increase may reflect heightened hedging or bearish bets, but options activity alone does not establish the market’s direction.
• Negative Sentiment: Despite the EPS beat, earnings were below the year-ago $11.17 per share, and a report said net income fell about 45%, citing higher catastrophe losses. This raises questions about how sustainable current earnings are as results normalize. Allstate Q3 net income and catastrophe losses
• Negative Sentiment: Underlying auto loss costs are rising while average premiums are falling, a combination that could pressure underwriting margins even as policy counts grow. Auto policy growth and loss costs

Allstate Company Profile

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.