Allstate (NYSE:ALL) Price Target Raised to $240.00 at Keefe, Bruyette & Woods

Allstate (NYSE:ALL) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $235.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 27.46% from the company’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group upped their price objective on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Bank of America boosted their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Morgan Stanley boosted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Stock Performance

Shares of NYSE ALL traded up $1.72 during trading on Tuesday, reaching $188.30. The stock had a trading volume of 427,452 shares, compared to its average volume of 1,718,513. Allstate has a one year low of $153.87 and a one year high of $209.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market cap of $49.86 billion, a PE ratio of 11.08, a P/E/G ratio of 1.47 and a beta of 0.52. The firm’s 50 day moving average price is $192.05 and its two-hundred day moving average price is $189.34.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, research analysts forecast that Allstate will post 18.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALL. JPMorgan Chase & Co. boosted its stake in shares of Allstate by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after acquiring an additional 28,584 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Allstate by 117.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after acquiring an additional 2,643 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Allstate by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after acquiring an additional 3,800 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock worth $77,413,000 after acquiring an additional 100,311 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after acquiring an additional 2,888 shares in the last quarter. Hedge funds and other 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.