Allstate (NYSE:ALL) Given New $265.00 Price Target at Mizuho

Allstate (NYSE:ALL) had its target price decreased by equities researchers at Mizuho from $281.00 to $265.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Mizuho’s price target indicates a potential upside of 29.59% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Citigroup lifted their price objective on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Wells Fargo & Company decreased their price target on Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th. Keefe, Bruyette & Woods increased their price objective on Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average target price of $237.94.

Allstate Stock Up 0.2%

Shares of Allstate stock traded up $0.43 during midday trading on Friday, hitting $204.50. The company’s stock had a trading volume of 417,567 shares, compared to its average volume of 1,709,007. Allstate has a 1-year low of $176.00 and a 1-year high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $53.07 billion, a P/E ratio of 5.35, a PEG ratio of 0.42 and a beta of 0.23. The stock has a 50-day simple moving average of $204.37 and a 200-day simple moving average of $204.76.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period in the previous year, the firm earned $7.67 earnings per share. Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Allstate will post 18.74 earnings per share for the current year.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Allstate during the 4th quarter valued at about $531,294,000. GQG Partners LLC raised its position in Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after purchasing an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. raised its position in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Swedbank AB lifted its stake in Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.