Morgan Stanley Increases Allstate (NYSE:ALL) Price Target to $228.00

Allstate (NYSE:ALL) had its price target boosted by stock analysts at Morgan Stanley from $220.00 to $228.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 19.99% from the company’s current price.

A number of other brokerages also recently weighed in on ALL. Evercore ISI upped their target price on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group lifted their price objective on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays upped their target price on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.31.

Allstate Price Performance

Shares of NYSE ALL traded up $1.22 during trading on Thursday, hitting $190.01. The company had a trading volume of 504,386 shares, compared to its average volume of 1,545,319. Allstate has a 52 week low of $127.93 and a 52 week high of $198.79. The company has a market cap of $50.32 billion, a P/E ratio of 12.33, a PEG ratio of 1.73 and a beta of 0.48. 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 business’s 50-day moving average is $188.89 and its 200 day moving average is $175.59.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. Equities research analysts predict that Allstate will post 15.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the firm’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 sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated 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 approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allstate

Several hedge funds and other institutional investors have recently modified their holdings of ALL. Northwest Investment Counselors LLC acquired a new position in Allstate during the third quarter worth $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate during the 3rd quarter worth about $29,000. 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 valued at $30,000 after purchasing an additional 78 shares during the last quarter. Family Firm Inc. bought a new stake in Allstate during the second quarter worth about $38,000. Finally, MCF Advisors LLC increased its holdings in shares of Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares in the last quarter. 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.