Allstate (NYSE:ALL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Allstate (NYSE:ALL) had its price target lifted by stock analysts at Piper Sandler from $206.00 to $244.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target would suggest a potential upside of 20.71% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. TD Cowen lifted their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets lifted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.19.

Allstate Stock Down 0.8 %

ALL stock opened at $202.14 on Tuesday. Allstate has a twelve month low of $134.17 and a twelve month high of $205.35. The company has a market cap of $53.53 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.81 and a beta of 0.48. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $191.64 and a two-hundred day moving average price of $178.11.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Analysts anticipate that Allstate will post 16.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated 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 directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate in the 3rd quarter valued at $29,000. Versant Capital Management Inc raised its holdings in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Allstate during the 2nd quarter worth $38,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

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.