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

Key Points

• Keefe, Bruyette & Woods raised Allstate’s price target from $232 to $241 but maintained an “underperform” rating, implying about 5% downside from the stock’s current price.
• Analyst views are mixed: MarketBeat reports a consensus “hold” rating and an average price target of $272.14, with 22 analysts covering the stock.
• Allstate’s latest quarter beat expectations, reporting earnings of $9.76 per share versus $6.89 expected and revenue of $17.35 billion versus $15.87 billion expected.

Allstate (NYSE:ALL - Get Free Report) had its price objective lifted by equities research analysts at Keefe, Bruyette & Woods from $232.00 to $241.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "underperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods's target price suggests a potential downside of 5.04% from the stock's current price.

A number of other research firms have also issued reports on ALL. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $282.00 to $292.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Argus set a $238.00 price objective on shares of Allstate in a research report on Friday, August 28th. Mizuho lowered their price objective on shares of Allstate from $300.00 to $295.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. The Goldman Sachs Group cut their target price on shares of Allstate from $280.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, October 1st. Finally, Morgan Stanley reduced their target price on Allstate from $265.00 to $240.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $272.14.

Allstate Trading Down 0.4%

Shares of NYSE ALL opened at $253.80 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. Allstate has a 12 month low of $191.13 and a 12 month high of $281.11. The company has a market cap of $64.18 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 0.59 and a beta of 0.13. The business has a fifty day simple moving average of $245.77 and a 200-day simple moving average of $230.14.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share for the quarter, topping analysts' consensus estimates of $6.89 by $2.87. Allstate had a return on equity of 38.48% and a net margin of 16.57%. The firm had revenue of $17.35 billion for the quarter, compared to analysts' expectations of $15.87 billion. During the same quarter last year, the business posted $11.17 EPS. Allstate's revenue was up .5% on a year-over-year basis. Sell-side analysts predict that Allstate will post 36.67 EPS for the current year.

Institutional Investors Weigh In On Allstate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Allstate during the 2nd quarter valued at $5,439,448,000. Bank of America Corp DE increased its position in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after purchasing an additional 596,321 shares during the last quarter. GQG Partners LLC acquired a new position in Allstate in the 2nd quarter worth about $1,245,710,000. Deutsche Bank AG purchased a new stake in shares of Allstate during the 2nd quarter worth about $1,008,648,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Allstate by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider's stock worth $581,515,000 after purchasing an additional 154,259 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Company Profile

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance.

The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.

Founded in 1931 as part of Sears, Roebuck and Co, Allstate became an independent, publicly traded company in 1993.

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