Allstate (NYSE:ALL) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Allstate (NYSE:ALL) had its price objective decreased by Keefe, Bruyette & Woods from $250.00 to $232.00 in a research note published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the insurance provider’s stock.

A number of other brokerages have also recently issued reports on ALL. UBS Group lifted their price objective on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Citigroup lowered their target price on shares of Allstate from $240.00 to $215.00 and set a “sell” rating on the stock in a report on Friday, October 2nd. Weiss Ratings cut shares of Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday, September 29th. Cantor Fitzgerald lifted their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $270.19.

Allstate Price Performance

Shares of NYSE:ALL opened at $236.00 on Monday. The firm has a market capitalization of $59.67 billion, a PE ratio of 4.71, a PEG ratio of 0.53 and a beta of 0.13. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. Allstate has a 1-year low of $188.08 and a 1-year high of $277.22. The business’s 50 day moving average is $247.88 and its 200-day moving average is $234.70.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $5.94 earnings per share. Sell-side analysts predict that Allstate will post 35.83 earnings per share for the current year.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 32,996 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mather Group LLC. boosted its stake in shares of Allstate by 8.1% during the 3rd quarter. Mather Group LLC. now owns 6,950 shares of the insurance provider’s stock valued at $1,516,000 after buying an additional 523 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Allstate by 84.6% during the third quarter. Fortitude Family Office LLC now owns 432 shares of the insurance provider’s stock worth $96,000 after buying an additional 198 shares in the last quarter. Weil Company Inc. increased its stake in shares of Allstate by 17.2% in the third quarter. Weil Company Inc. now owns 2,409 shares of the insurance provider’s stock worth $534,000 after buying an additional 353 shares during the last quarter. Mezzasalma Advisors LLC increased its stake in shares of Allstate by 22.2% in the third quarter. Mezzasalma Advisors LLC now owns 1,319 shares of the insurance provider’s stock worth $293,000 after buying an additional 240 shares during the last quarter. Finally, Triumph Capital Management increased its stake in shares of Allstate by 85.5% in the third quarter. Triumph Capital Management now owns 3,952 shares of the insurance provider’s stock worth $877,000 after buying an additional 1,822 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.