Allstate (NYSE:ALL) Receives "Strong-Buy" Rating from Raymond James

Allstate (NYSE:ALL - Get Free Report)'s stock had its "strong-buy" rating restated by analysts at Raymond James in a research note issued to investors on Monday, MarketBeat reports. They presently have a $250.00 target price on the insurance provider's stock, up from their prior target price of $240.00. Raymond James' price target indicates a potential upside of 22.44% from the stock's previous close.

Several other analysts have also weighed in on ALL. Evercore ISI lifted their target price on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. StockNews.com upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 14th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Finally, Barclays decreased their price objective on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Performance

Shares of ALL stock traded up $2.12 during trading hours on Monday, reaching $204.18. 1,169,970 shares of the company's stock were exchanged, compared to its average volume of 1,615,250. The business has a fifty day moving average price of $198.98 and a 200-day moving average price of $195.02. The stock has a market capitalization of $54.07 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.01 and a beta of 0.32. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. 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 posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $5.13 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that Allstate will post 18.74 EPS for the current fiscal year.

Allstate announced that its board has authorized a stock buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Transactions at Allstate

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 stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Allstate

Institutional investors and hedge funds have recently modified their holdings of the business. N.E.W. Advisory Services LLC lifted its stake in Allstate by 29.6% in the first quarter. N.E.W. Advisory Services LLC now owns 2,007 shares of the insurance provider's stock valued at $416,000 after buying an additional 458 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 99 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Allstate by 12.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 6,897 shares of the insurance provider's stock worth $1,428,000 after purchasing an additional 763 shares during the period. Pinnacle Wealth Management Advisory Group LLC bought a new position in Allstate during the 1st quarter worth about $201,000. Finally, AGP Franklin LLC grew its holdings in shares of Allstate by 7.5% during the first quarter. AGP Franklin LLC now owns 5,593 shares of the insurance provider's stock worth $1,088,000 after buying an additional 391 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.