Jefferies Financial Group Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its target price upped by Jefferies Financial Group from $231.00 to $267.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 36.29% from the company’s previous close.

ALL has been the subject of a number of other research reports. Morgan Stanley raised their price target on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. Finally, StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $212.56.

Allstate Stock Performance

Shares of NYSE:ALL traded up $5.35 during midday trading on Friday, hitting $195.90. The company’s stock had a trading volume of 324,731 shares, compared to its average volume of 1,543,488. The stock has a market capitalization of $51.87 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.71 and a beta of 0.48. The stock’s 50 day simple moving average is $188.89 and its 200 day simple moving average is $175.59. Allstate has a fifty-two week low of $128.33 and a fifty-two 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.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping 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 firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts anticipate that Allstate will post 15.23 earnings per share for the current year.

Insider Transactions at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction on Friday, August 16th. The shares were 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 owns 19,163 shares of the company’s stock, 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 this link. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the 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 directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,530 shares of company stock valued at $34,967,665 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently modified their holdings of ALL. GSA Capital Partners LLP purchased a new stake in shares of Allstate in the 1st quarter worth about $566,000. Csenge Advisory Group purchased a new stake in shares of Allstate in the 1st quarter worth about $213,000. Geneos Wealth Management Inc. lifted its position in shares of Allstate by 266.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,406 shares of the insurance provider’s stock worth $243,000 after purchasing an additional 1,022 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Allstate by 12.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after purchasing an additional 5,586 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Allstate by 251.8% in the 1st quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock worth $9,185,000 after purchasing an additional 38,001 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Company Profile

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.