Allstate (NYSE:ALL) Price Target Raised to $235.00

Allstate (NYSE:ALL - Get Free Report) had its price target increased by Morgan Stanley from $225.00 to $235.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. Morgan Stanley's price target points to a potential upside of 16.70% from the company's previous close.

A number of other research firms have also commented on ALL. StockNews.com upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods decreased their target price on Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Raymond James restated a "strong-buy" rating and set a $250.00 price objective (up from $240.00) on shares of Allstate in a research report on Monday. Finally, Evercore ISI raised their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $224.73.

Allstate Stock Up 0.6 %

NYSE:ALL traded up $1.12 during mid-day trading on Tuesday, reaching $201.37. The stock had a trading volume of 58,709 shares, compared to its average volume of 1,611,677. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a market cap of $53.39 billion, a P/E ratio of 11.86, a PEG ratio of 1.01 and a beta of 0.32. The business's 50 day moving average is $198.73 and its 200 day moving average is $194.90. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period in the prior year, the firm earned $5.13 EPS. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Allstate will post 18.74 earnings per share for the current year.

Allstate declared that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALL. Ameritas Advisory Services LLC boosted its stake in shares of Allstate by 117.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider's stock valued at $944,000 after purchasing an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in Allstate by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider's stock valued at $11,297,000 after acquiring an additional 3,800 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Allstate by 10.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock worth $98,065,000 after acquiring an additional 48,382 shares during the period. Artemis Investment Management LLP raised its position in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider's stock valued at $77,413,000 after acquiring an additional 100,311 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Allstate by 56.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock valued at $36,012,000 after purchasing an additional 67,032 shares during the period. Institutional investors and hedge funds 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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