JPMorgan Chase & Co. Increases Allstate (NYSE:ALL) Price Target to $193.00

Allstate (NYSE:ALL) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $185.00 to $193.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 13.20% from the stock’s previous close.

Several other research analysts have also commented on the company. Morgan Stanley boosted their price objective on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. BMO Capital Markets upped their target price on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research report on Friday, January 19th. Keefe, Bruyette & Woods upped their price objective on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Finally, UBS Group increased their price target on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.18.

Allstate Stock Performance

NYSE:ALL traded down $1.06 on Thursday, reaching $170.50. 1,231,795 shares of the company’s stock were exchanged, compared to its average volume of 1,663,083. The stock has a fifty day simple moving average of $165.70 and a 200-day simple moving average of $150.52. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of -137.31, a P/E/G ratio of 0.41 and a beta of 0.51. Allstate has a 52 week low of $100.57 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. During the same period in the prior year, the firm posted ($1.30) earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Allstate will post 13.83 earnings per share for the current year.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ellsworth Advisors LLC bought a new stake in Allstate in the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC increased its stake in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Allstate by 484.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after acquiring an additional 275,319 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Allstate by 214.6% during the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after acquiring an additional 1,071 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Allstate by 88.7% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after purchasing an additional 11,512 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

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.