Allstate (NYSE:ALL) Given New $244.00 Price Target at Piper Sandler

Allstate (NYSE:ALL) had its price target increased by analysts at Piper Sandler from $206.00 to $244.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 20.71% from the stock’s current price.

ALL has been the subject of a number of other reports. Barclays lifted their price target on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Evercore ISI upped their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Bank of America raised their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. BMO Capital Markets boosted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Raymond James increased their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $217.19.

Allstate Stock Down 0.8 %

ALL opened at $202.14 on Tuesday. Allstate has a twelve month low of $134.17 and a twelve month high of $205.35. The firm has a market cap of $53.53 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.81 and a beta of 0.48. The firm’s 50-day simple moving average is $191.64 and its 200-day simple moving average is $178.11. 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 posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that Allstate will post 16.07 EPS for the current fiscal year.

Insider Activity

In related news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALL. FSA Wealth Management LLC bought a new stake in shares of Allstate in the third quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the 3rd quarter valued at approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the 3rd quarter valued at approximately $29,000. Versant Capital Management Inc boosted its position 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 acquiring an additional 78 shares during the last quarter. Finally, Family Firm Inc. bought a new position in shares of Allstate during the 2nd quarter worth approximately $38,000. 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.