Allstate (NYSE:ALL) had its price target raised by analysts at UBS Group from $110.00 to $112.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. UBS Group’s price objective points to a potential upside of 4.72% from the stock’s previous close.
Several other equities research analysts have also issued reports on ALL. ValuEngine lowered Allstate from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Credit Suisse Group lowered Allstate from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $100.00 to $94.00 in a research report on Thursday, July 11th. Barclays set a $125.00 target price on Allstate and gave the stock a “buy” rating in a research report on Monday, August 12th. Buckingham Research increased their target price on Allstate from $100.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley increased their target price on Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $108.38.
Shares of Allstate stock traded up $1.05 on Wednesday, hitting $106.95. 123,778 shares of the company’s stock traded hands, compared to its average volume of 1,817,754. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.29. The stock has a market cap of $35.70 billion, a P/E ratio of 13.25, a PEG ratio of 1.37 and a beta of 0.83. Allstate has a 52-week low of $77.00 and a 52-week high of $109.55. The firm’s 50-day moving average is $105.57 and its 200 day moving average is $100.92.
In other news, EVP Susan L. Lees sold 27,650 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the transaction, the executive vice president now directly owns 53,165 shares of the company’s stock, valued at $5,757,769.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Jane Fortin sold 9,773 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $104.21, for a total value of $1,018,444.33. Following the transaction, the insider now directly owns 33,808 shares in the company, valued at $3,523,131.68. The disclosure for this sale can be found here. Insiders have sold 99,783 shares of company stock worth $10,472,581 over the last three months. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ALL. Manchester Financial Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at $25,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at $27,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Allstate in the 2nd quarter valued at $34,000. Mcmillion Capital Management Inc. acquired a new position in shares of Allstate in the 2nd quarter valued at $35,000. Finally, Webster Bank N. A. boosted its position in shares of Allstate by 100.0% in the 2nd quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 200 shares during the period. 76.81% of the stock is currently owned by institutional investors.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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