Allstate (NYSE:ALL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Allstate (NYSE:ALL) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $222.00 to $225.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 18.08% from the company’s previous close.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group increased their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday. Jefferies Financial Group lifted their price target on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.31.

Allstate Price Performance

NYSE:ALL opened at $190.55 on Wednesday. The firm’s fifty day moving average is $188.89 and its two-hundred day moving average is $175.59. The firm has a market cap of $50.46 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.71 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. Allstate has a one year low of $127.93 and a one year high of $198.79.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company earned $0.81 earnings per share. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts expect that Allstate will post 15.23 EPS for the current year.

Insider Transactions at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate in the third quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate during the 3rd quarter worth approximately $29,000. Versant Capital Management Inc grew its holdings in shares of Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 78 shares during the period. Family Firm Inc. purchased a new position in Allstate in the 2nd quarter valued at approximately $38,000. Finally, MCF Advisors LLC boosted its position in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.