Morgan Stanley Boosts Allstate (NYSE:ALL) Price Target to $215.00

Allstate (NYSE:ALL) had its target price hoisted by Morgan Stanley from $202.00 to $215.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

ALL has been the topic of several other reports. Bank of America boosted their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their price objective on Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. The Goldman Sachs Group upped their price target on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their price objective on shares of Allstate from $215.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.44.

Allstate Stock Down 0.4 %

Shares of Allstate stock opened at $192.00 on Monday. Allstate has a 1 year low of $122.53 and a 1 year high of $198.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $50.67 billion, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The business has a 50-day moving average of $187.73 and a two-hundred day moving average of $174.23.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. Allstate’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.42) EPS. As a group, equities analysts predict that Allstate will post 15.19 EPS for the current year.

Insider Activity at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Toohey sold 16,682 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Several hedge funds and other institutional investors have recently modified their holdings of ALL. Northwest Investment Counselors LLC acquired a new stake in Allstate during the first quarter worth approximately $26,000. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 78 shares during the last quarter. Family Firm Inc. bought a new stake in Allstate in the 2nd quarter valued at $38,000. MCF Advisors LLC grew its holdings in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in Allstate by 38.5% during the 1st quarter. Sunbelt Securities Inc. now owns 363 shares of the insurance provider’s stock worth $63,000 after buying an additional 101 shares during the period. Institutional investors own 76.47% of the company’s stock.

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.