Allstate (NYSE:ALL – Get Free Report) had its price target lifted by stock analysts at Jefferies Financial Group from $217.00 to $231.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 24.42% from the company’s current price.
Several other equities research analysts have also recently commented on the company. Morgan Stanley dropped their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. Evercore ISI boosted their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Piper Sandler boosted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.24.
Check Out Our Latest Analysis on ALL
Allstate Stock Up 0.4 %
Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the previous year, the company posted ($4.42) earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts expect that Allstate will post 15.2 earnings per share for the current fiscal year.
Insider Buying and Selling at Allstate
In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 238,305 shares of company stock valued at $43,082,657 in the last quarter. 1.80% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ALL. BDF Gestion acquired a new stake in Allstate in the second quarter valued at approximately $3,051,000. BNP Paribas Financial Markets raised its holdings in shares of Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after buying an additional 78,316 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Allstate in the second quarter valued at about $476,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Allstate by 12.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after purchasing an additional 5,586 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Allstate by 251.8% in the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after acquiring an additional 38,001 shares during the last quarter. Hedge funds and other 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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