Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL - Get Free Report) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $235.00 to $237.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 22.98% from the stock's previous close.

Several other equities research analysts have also recently weighed in on ALL. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Evercore ISI raised their price objective 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. UBS Group raised their target price on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $227.07.

Allstate Price Performance

Shares of ALL stock traded down $0.68 during mid-day trading on Wednesday, reaching $192.72. The company's stock had a trading volume of 295,788 shares, compared to its average volume of 1,634,758. Allstate has a 1-year low of $158.04 and a 1-year high of $213.18. The company has a market cap of $51.03 billion, a P/E ratio of 13.16, a PEG ratio of 1.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The firm's 50-day moving average is $201.24 and its two-hundred day moving average is $196.68.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $5.13 EPS. On average, research analysts predict that Allstate will post 18.74 earnings per share for the current year.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently modified their holdings of the business. Bowman & Co S.C. raised its stake in Allstate by 2.3% in the second quarter. Bowman & Co S.C. now owns 6,872 shares of the insurance provider's stock valued at $1,385,000 after purchasing an additional 152 shares in the last quarter. Czech National Bank boosted its holdings in Allstate by 6.3% in the second quarter. Czech National Bank now owns 64,730 shares of the insurance provider's stock valued at $13,031,000 after acquiring an additional 3,864 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Allstate by 4.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 16,952 shares of the insurance provider's stock valued at $3,413,000 after acquiring an additional 665 shares during the last quarter. Arlington Trust Co LLC boosted its holdings in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after buying an additional 89 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its holdings in shares of Allstate by 6.8% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 10,544 shares of the insurance provider's stock worth $2,123,000 after purchasing an additional 673 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

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.

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