Keefe, Bruyette & Woods Raises Allstate (NYSE:ALL) Price Target to $254.00

Allstate (NYSE:ALL) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $250.00 to $254.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 22.60% from the company’s current price.

Other research analysts also recently issued reports about the company. Roth Capital increased their price objective on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Mizuho started coverage on shares of Allstate in a report on Monday, December 15th. They issued an “outperform” rating and a $254.00 price objective on the stock. UBS Group boosted their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company raised their target price on shares of Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.00.

Allstate Stock Performance

Shares of ALL opened at $207.18 on Tuesday. The firm has a market cap of $54.21 billion, a P/E ratio of 6.71, a PEG ratio of 0.46 and a beta of 0.24. Allstate has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s 50 day moving average price is $206.55 and its two-hundred day moving average price is $203.12.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.91 EPS. On average, analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 28,807 shares of company stock valued at $6,198,726 in the last 90 days. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Allstate during the 4th quarter worth approximately $231,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Allstate by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,756 shares of the insurance provider’s stock valued at $5,747,000 after purchasing an additional 1,619 shares during the period. NewEdge Advisors LLC grew its holdings in Allstate by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 28,152 shares of the insurance provider’s stock valued at $5,829,000 after buying an additional 2,061 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Allstate by 1.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 21,415 shares of the insurance provider’s stock worth $4,434,000 after buying an additional 379 shares during the period. 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.