Keefe, Bruyette & Woods Increases Allstate (NYSE:ALL) Price Target to $266.00

Allstate (NYSE:ALL) had its price target raised by stock analysts at Keefe, Bruyette & Woods from $260.00 to $266.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 24.88% from the company’s previous close.

ALL has been the subject of several other reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, TD Cowen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.67.

Allstate Stock Down 0.3%

Shares of Allstate stock opened at $213.01 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $54.83 billion, a PE ratio of 4.70, a price-to-earnings-growth ratio of 0.40 and a beta of 0.21. Allstate has a 52-week low of $188.08 and a 52-week high of $222.23. The company has a 50-day simple moving average of $210.90 and a two-hundred day simple moving average of $206.26.

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

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.55% of the company’s stock.

Institutional Trading of Allstate

Several large investors have recently added to or reduced their stakes in ALL. Brighton Jones LLC grew its position in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new stake in Allstate during the fourth quarter valued at approximately $231,000. WINTON GROUP Ltd bought a new stake in Allstate during the second quarter valued at approximately $210,000. Treasurer of the State of North Carolina grew its position in Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after buying an additional 3,051 shares during the period. Finally, Ieq Capital LLC grew its position in Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after buying an additional 6,412 shares during the period. 76.47% of the stock is currently owned by institutional investors.

About Allstate

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.