Allstate (NYSE:ALL) has been given a $125.00 price target by research analysts at Barclays in a research note issued to investors on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Barclays‘s target price points to a potential upside of 22.77% from the stock’s previous close.
Several other analysts have also recently commented on the stock. UBS Group lifted their target price on shares of Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Raymond James lifted their target price on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on shares of Allstate from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Goldman Sachs Group raised shares of Allstate from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Finally, Credit Suisse Group cut shares of Allstate from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $100.00 to $94.00 in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Allstate presently has an average rating of “Hold” and a consensus target price of $108.08.
ALL stock traded down $2.62 during midday trading on Monday, hitting $101.82. The stock had a trading volume of 1,324,019 shares, compared to its average volume of 1,879,599. The company has a market cap of $34.27 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.34 and a beta of 0.82. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.29. Allstate has a 12-month low of $77.00 and a 12-month high of $109.13. The business has a 50-day moving average price of $103.20.
Allstate (NYSE:ALL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.70. The firm had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Allstate had a net margin of 6.52% and a return on equity of 12.66%. Allstate’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 EPS. On average, equities research analysts anticipate that Allstate will post 9.35 EPS for the current fiscal year.
In related news, insider Glenn T. Shapiro sold 22,289 shares of Allstate stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $102.22, for a total transaction of $2,278,381.58. Following the transaction, the insider now owns 25,584 shares in the company, valued at approximately $2,615,196.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jesse E. Merten sold 900 shares of Allstate stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $102.27, for a total transaction of $92,043.00. Following the transaction, the executive vice president now owns 4,869 shares in the company, valued at approximately $497,952.63. The disclosure for this sale can be found here. Insiders have sold a total of 126,836 shares of company stock valued at $13,071,947 over the last three months. Corporate insiders own 1.60% of the company’s stock.
Several large investors have recently bought and sold shares of ALL. BlackRock Inc. raised its stake in shares of Allstate by 0.4% in the 2nd quarter. BlackRock Inc. now owns 26,305,632 shares of the insurance provider’s stock valued at $2,675,022,000 after purchasing an additional 109,997 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Allstate by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 24,689,491 shares of the insurance provider’s stock valued at $2,510,675,000 after buying an additional 228,584 shares during the last quarter. Boston Partners grew its position in shares of Allstate by 17.1% during the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock valued at $1,045,965,000 after buying an additional 1,620,871 shares during the last quarter. LSV Asset Management grew its position in shares of Allstate by 3.6% during the 1st quarter. LSV Asset Management now owns 5,854,851 shares of the insurance provider’s stock valued at $551,409,000 after buying an additional 204,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Allstate by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock valued at $390,468,000 after buying an additional 391,869 shares during the last quarter. Institutional investors and hedge funds own 78.26% of the company’s stock.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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