Allstate (NYSE:ALL) Given New $266.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Allstate to $266 (from $260) and kept an outperform rating, implying roughly a 24.9% upside from the prior close.
• Allstate posted a strong quarter — EPS $10.65 vs. $7.31 expected and revenue $16.94B vs. $15.24B — with a 17.8% net margin and 42.7% ROE, bolstering positive analyst sentiment.
• Shares traded at $212.98 (down 2.3%) with a market cap of ~$54.8B; analysts' consensus is a Moderate Buy and the average price target is $241.67, while the stock's P/E is about 4.7.

Allstate (NYSE:ALL - Get Free Report) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $260.00 to $266.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 24.89% from the company's previous close.

Several other research analysts also recently commented on ALL. Piper Sandler lifted their target price on shares of Allstate from $252.00 to $268.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Barclays lifted their target price on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a report on Wednesday, April 8th. Evercore set a $225.00 target price on shares of Allstate in a report on Wednesday, January 7th. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, TD Cowen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $241.67.

Allstate Stock Down 2.3%

Shares of Allstate stock traded down $4.94 during midday trading on Thursday, reaching $212.98. 1,544,113 shares of the company's stock traded hands, compared to its average volume of 1,602,718. The company has a market cap of $54.83 billion, a price-to-earnings ratio of 4.69, a price-to-earnings-growth ratio of 0.42 and a beta of 0.21. The company's 50 day simple moving average is $210.82 and its 200 day simple moving average is $206.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 52 week low of $188.08 and a 52 week high of $222.23.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.53 EPS. Equities analysts expect that Allstate will post 27.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.55% of the company's stock.

Institutional Trading of Allstate

Several institutional investors have recently made changes to their positions in the business. Decker Wealth Management LLC acquired a new stake in shares of Allstate during the 1st quarter valued at about $270,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Allstate during the 1st quarter valued at about $30,000. Little House Capital LLC acquired a new stake in shares of Allstate during the 1st quarter valued at about $2,077,000. SEB Asset Management AB acquired a new stake in shares of Allstate during the 1st quarter valued at about $58,855,000. Finally, Swiss National Bank boosted its position in Allstate by 6.4% in the first quarter. Swiss National Bank now owns 767,900 shares of the insurance provider's stock valued at $159,216,000 after buying an additional 46,200 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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