Jefferies Financial Group Raises Allstate (NYSE:ALL) Price Target to $255.00

Key Points

• Jefferies Financial Group has increased its price target for Allstate (NYSE:ALL) to $255.00, suggesting a potential upside of 23.36% from its current price.
• Allstate's latest earnings report showed an EPS of $5.94, significantly exceeding the consensus estimate of $3.20, despite revenues falling short of expectations.
• The consensus rating for Allstate is currently classified as "Moderate Buy," with an average price target of approximately $229.20 among analysts.

Allstate (NYSE:ALL - Get Free Report) had its price objective hoisted by research analysts at Jefferies Financial Group from $254.00 to $255.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the insurance provider's stock. Jefferies Financial Group's price objective suggests a potential upside of 23.36% from the company's current price.

A number of other brokerages have also recently weighed in on ALL. Morgan Stanley upped their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays restated an "underweight" rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Wells Fargo & Company set a $202.00 price target on shares of Allstate and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $229.20.

Allstate Price Performance

Shares of NYSE ALL opened at $206.71 on Monday. Allstate has a 1 year low of $169.95 and a 1 year high of $213.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company's 50-day moving average is $198.31 and its 200 day moving average is $197.95. The stock has a market capitalization of $54.47 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.86 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. Allstate's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Allstate will post 18.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the period. Boston Partners raised its position in shares of Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after purchasing an additional 2,134,893 shares during the period. GAMMA Investing LLC raised its position in shares of Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after purchasing an additional 1,268,825 shares during the period. Finally, Castle Hook Partners LP raised its position in shares of Allstate by 1,303.3% during the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after purchasing an additional 766,058 shares during the period. 76.47% of the stock is currently owned by institutional investors.

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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