Piper Sandler Issues Positive Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its price objective boosted by stock analysts at Piper Sandler from $268.00 to $300.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target points to a potential upside of 11.00% from the company’s previous close.

Several other research analysts have also recently commented on the company. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Mizuho boosted their price target on Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Barclays upped their price objective on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research note on Thursday. The Goldman Sachs Group reissued a “neutral” rating and issued a $280.00 target price on shares of Allstate in a research note on Friday. Finally, Citigroup boosted their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $261.80.

Allstate Stock Up 1.2%

Shares of ALL stock traded up $3.26 during trading on Monday, reaching $270.26. The company’s stock had a trading volume of 735,387 shares, compared to its average volume of 1,673,426. Allstate has a one year low of $188.08 and a one year high of $277.22. The business has a fifty day moving average price of $241.52 and a 200-day moving average price of $220.65. The company has a market cap of $69.57 billion, a price-to-earnings ratio of 5.40, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.94 earnings per share. Analysts anticipate that Allstate will post 31.4 earnings per share for the current year.

Insider Buying and Selling at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by company insiders.

Institutional Trading of Allstate

A number of institutional investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. grew its position in shares of Allstate by 0.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after buying an additional 50 shares during the last quarter. Compound Planning Inc. raised its stake in Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after acquiring an additional 50 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after acquiring an additional 52 shares during the last quarter. Root Financial Partners LLC boosted its stake in Allstate by 4.7% in the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after acquiring an additional 53 shares during the period. Finally, L2 Asset Management LLC boosted its stake in Allstate by 4.7% in the third quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider’s stock valued at $263,000 after acquiring an additional 55 shares during the period. Institutional investors own 76.47% of the company’s stock.

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.