Allstate (NYSE:ALL) Price Target Raised to $240.00

Allstate (NYSE:ALL) had its price target lifted by Keefe, Bruyette & Woods from $235.00 to $240.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets boosted their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler boosted their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Price Performance

Shares of NYSE ALL opened at $192.97 on Tuesday. The firm has a market capitalization of $51.10 billion, a P/E ratio of 11.36, a PEG ratio of 1.47 and a beta of 0.52. Allstate has a one year low of $153.87 and a one year high of $209.88. The company’s fifty day moving average is $191.46 and its two-hundred day moving average is $189.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Analysts forecast that Allstate will post 18.64 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. VSM Wealth Advisory LLC acquired a new position in shares of Allstate during the 4th quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in shares of Allstate during the 3rd quarter valued at about $26,000. Twin Tree Management LP acquired a new stake in Allstate during the 4th quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in Allstate during the 3rd quarter worth approximately $28,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Allstate during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.