Allstate (NYSE:ALL) Price Target Raised to $243.00

Allstate (NYSE:ALL) had its price target upped by Wells Fargo & Company from $229.00 to $243.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Several other research analysts also recently commented on ALL. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Finally, Keefe, Bruyette & Woods lifted 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. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

Allstate Trading Down 0.3%

ALL stock opened at $213.01 on Wednesday. The company has a market capitalization of $54.83 billion, a PE ratio of 4.70, a P/E/G ratio of 0.40 and a beta of 0.21. Allstate has a 12 month low of $188.08 and a 12 month high of $222.23. The firm’s 50-day moving average is $210.90 and its 200 day moving average is $206.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.53 EPS. On average, research analysts anticipate that Allstate will post 28.26 EPS for the current year.

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allstate

Institutional investors have recently bought and sold shares of the business. Truist Financial Corp raised its position in Allstate by 4.7% during the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock worth $26,501,000 after acquiring an additional 5,542 shares during the period. First Horizon Corp acquired a new position in Allstate during the third quarter worth $11,109,000. Coastal Bridge Advisors LLC raised its position in Allstate by 530.6% during the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock worth $3,901,000 after acquiring an additional 15,292 shares during the period. Jones Financial Companies Lllp raised its position in Allstate by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider’s stock worth $40,489,000 after acquiring an additional 12,225 shares during the period. Finally, Caprock Group LLC acquired a new position in Allstate during the third quarter worth $3,598,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Company Profile

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.