Allstate (NYSE:ALL) Stock Price Expected to Rise, Mizuho Analyst Says

Allstate (NYSE:ALL) had its price objective lifted by Mizuho from $255.00 to $281.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Mizuho’s price target would indicate a potential upside of 39.98% from the company’s previous close.

Several other brokerages also recently commented on ALL. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Roth Mkm raised their price objective on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. JPMorgan Chase & Co. upped their target price on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.00.

Allstate Price Performance

Shares of ALL stock opened at $200.75 on Monday. The business has a fifty day simple moving average of $203.52 and a 200 day simple moving average of $203.95. The company has a market cap of $52.53 billion, a P/E ratio of 5.26, a P/E/G ratio of 0.43 and a beta of 0.23. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Allstate has a twelve month low of $176.00 and a twelve month high of $216.75.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the firm earned $7.67 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 48,400 shares of company stock valued at $10,313,256 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Navalign LLC acquired a new position in shares of Allstate in the 4th quarter valued at about $27,000. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Dorato Capital Management acquired a new stake in Allstate during the fourth quarter worth approximately $27,000. Finally, Palisade Asset Management LLC bought a new stake in Allstate in the third quarter worth approximately $31,000. 76.47% of the stock is owned by institutional investors.

About Allstate

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.