Allstate (NYSE:ALL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Allstate (NYSE:ALL) had its target price increased by stock analysts at The Goldman Sachs Group from $209.00 to $230.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 17.44% from the company’s current price.

Other equities analysts have also issued reports about the stock. Roth Mkm restated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Raymond James lifted their price objective on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. BMO Capital Markets increased their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Evercore ISI boosted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.19.

Allstate Stock Down 0.7 %

NYSE ALL opened at $195.85 on Friday. The stock has a market capitalization of $51.86 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. Allstate has a 52 week low of $130.77 and a 52 week high of $201.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $189.58 and a 200-day moving average of $176.40.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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 return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company earned $0.81 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Allstate will post 16.07 EPS for the current year.

Insider Buying and Selling

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 50.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,049 shares of company stock valued at $26,106,112. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Allstate

Hedge funds have recently modified their holdings of the stock. SPC Financial Inc. grew its stake in Allstate by 3.6% in the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Allstate by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after buying an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its holdings in Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after buying an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. lifted its stake in Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

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.