Allstate (NYSE:ALL) Price Target Raised to $230.00

Allstate (NYSE:ALL) had its price target raised by investment analysts at The Goldman Sachs Group from $209.00 to $230.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 17.44% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. TD Cowen boosted their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays upped their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lifted their price objective on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $214.19.

Allstate Stock Down 0.7 %

ALL opened at $195.85 on Friday. The stock’s fifty day simple moving average is $189.58 and its 200 day simple moving average is $176.40. Allstate has a 1-year low of $130.77 and a 1-year high of $201.00. The stock has a market cap of $51.86 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts expect that Allstate will post 16.07 earnings per share for the current year.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Toohey sold 16,682 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. This represents a 77.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,049 shares of company stock worth $26,106,112 in the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Trading of Allstate

A number of hedge funds have recently made changes to their positions in ALL. SPC Financial Inc. raised its holdings in Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares during the last quarter. Lake Street Advisors Group LLC increased its position in Allstate by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 54 shares during the period. Abacus Planning Group Inc. raised its stake in shares of Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares during the period. Finally, Carmichael Hill & Associates Inc. grew its stake in shares of Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 60 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.