Allstate (NYSE:ALL) Given New $267.00 Price Target at Jefferies Financial Group

by · The Cerbat Gem

Allstate (NYSE:ALL – Free Report) had its price objective hoisted by Jefferies Financial Group from $231.00 to $267.00 in a research note released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company upped their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley lifted their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays increased their price objective on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $212.56.

Read Our Latest Stock Analysis on Allstate

Allstate Price Performance

NYSE:ALL traded up $6.35 during trading hours on Friday, hitting $196.90. The company’s stock had a trading volume of 2,018,725 shares, compared to its average volume of 1,551,294. Allstate has a 52-week low of $128.33 and a 52-week high of $198.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The business’s 50-day moving average is $189.09 and its two-hundred day moving average is $175.84. The company has a market capitalization of $52.14 billion, a PE ratio of 12.75, a PEG ratio of 1.71 and a beta of 0.48.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, research analysts anticipate that Allstate will post 15.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,530 shares of company stock valued at $34,967,665. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates increased its stake in Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after buying an additional 145,986 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after acquiring an additional 31,789 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Company Profile

(Get Free Report)

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.

Further Reading