Allstate (NYSE:ALL) Given New $246.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised Allstate's target price from $237.00 to $246.00, indicating a potential upside of 19.70% for the stock.
• The insurance provider reported $5.94 earnings per share (EPS) for the recent quarter, significantly exceeding analyst estimates of $3.20.
• A total of fifteen analysts have given Allstate a buy rating, while only one rated it as a sell, showcasing strong market confidence in the company's prospects.

Allstate (NYSE:ALL - Get Free Report) had its target price raised by Keefe, Bruyette & Woods from $237.00 to $246.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 19.70% from the company's previous close.

ALL has been the subject of a number of other research reports. Morgan Stanley increased their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Evercore ISI raised their target price on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. William Blair began coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating on the stock. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $230.00.

Allstate Trading Up 1.2%

Shares of ALL stock opened at $205.51 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. Allstate has a twelve month low of $169.20 and a twelve month high of $213.18. The company's 50-day moving average price is $198.32 and its 200-day moving average price is $197.46. The stock has a market cap of $54.15 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 0.87 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 earnings per share. As a group, equities analysts predict that Allstate will post 18.74 earnings per share for the current year.

Institutional Trading of Allstate

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new position in Allstate in the 4th quarter valued at $231,000. Stenger Family Office LLC purchased a new position in Allstate during the 4th quarter worth $439,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Allstate in the 4th quarter worth $377,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Allstate by 17.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 279,365 shares of the insurance provider's stock worth $53,859,000 after acquiring an additional 42,118 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Company Profile

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.

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