Allstate (NYSE:ALL) PT Raised to $207.00 at JPMorgan Chase & Co.

by · The Markets Daily

Allstate (NYSE:ALL – Get Free Report) had its target price increased by research analysts at JPMorgan Chase & Co. from $205.00 to $207.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.52% from the stock’s previous close.

Several other analysts have also recently issued reports on ALL. Jefferies Financial Group raised their target price on Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Piper Sandler lifted their target price on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $199.24.

Read Our Latest Research Report on Allstate

Allstate Trading Up 0.4 %

Shares of NYSE:ALL traded up $0.70 on Thursday, reaching $185.61. 738,717 shares of the company traded hands, compared to its average volume of 1,545,687. The business’s 50-day simple moving average is $183.88 and its 200 day simple moving average is $172.80. Allstate has a 52 week low of $113.04 and a 52 week high of $193.97. The stock has a market capitalization of $48.99 billion, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same period last year, the firm earned ($4.42) earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Allstate will post 15.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, 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. Insiders have sold 238,305 shares of company stock worth $43,082,657 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently bought and sold shares of ALL. Brevan Howard Capital Management LP raised its stake in shares of Allstate by 204.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 8,917 shares of the insurance provider’s stock valued at $1,248,000 after acquiring an additional 5,992 shares during the period. Bain Capital Public Equity LP raised its stake in shares of Allstate by 138.5% in the 4th quarter. Bain Capital Public Equity LP now owns 34,828 shares of the insurance provider’s stock valued at $4,875,000 after acquiring an additional 20,228 shares during the period. Bain Capital Public Equity Management II LLC raised its stake in shares of Allstate by 7.1% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 214,454 shares of the insurance provider’s stock valued at $30,019,000 after acquiring an additional 14,254 shares during the period. Gillson Capital LP purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $38,685,000. Finally, Palestra Capital Management LLC purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $83,561,000. 76.47% of the stock is 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.

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