Allstate (NYSE:ALL) Price Target Raised to $213.00

Allstate (NYSE:ALL) had its price target lifted by stock analysts at Barclays from $203.00 to $213.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Barclays‘s target price points to a potential downside of 14.27% from the stock’s current price.

ALL has been the subject of a number of other reports. Morgan Stanley increased their price target on Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho dropped their target price on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and lifted their price target for the company from $244.00 to $264.00 in a research note on Monday. Keefe, Bruyette & Woods downgraded Allstate from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $266.00 to $242.00 in a research note on Monday, June 8th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.26.

Allstate Price Performance

ALL stock opened at $248.46 on Tuesday. The company has a 50 day simple moving average of $220.59 and a 200 day simple moving average of $211.53. The stock has a market cap of $63.96 billion, a price-to-earnings ratio of 5.48, a P/E/G ratio of 0.44 and a beta of 0.16. Allstate has a 1 year low of $188.08 and a 1 year high of $250.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $3.53 earnings per share. Research analysts anticipate that Allstate will post 29.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last ninety days. Corporate insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several large investors have recently added to or reduced their stakes in ALL. MV Capital Management Inc. bought a new stake in Allstate during the 4th quarter worth approximately $25,000. Navalign LLC bought a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Dorato Capital Management purchased a new position in shares of Allstate during the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. boosted its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new stake in Allstate during the third quarter worth $31,000. Institutional investors 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.