JPMorgan Chase & Co. Issues Positive Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL - Get Free Report) had its target price raised by research analysts at JPMorgan Chase & Co. from $217.00 to $222.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 15.28% from the stock's previous close.

Several other equities research analysts also recently issued reports on ALL. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Barclays dropped their price objective on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $219.27.

Remove Ads

Allstate Trading Up 0.9 %

ALL stock traded up $1.79 during midday trading on Tuesday, reaching $192.58. 1,876,905 shares of the company's stock traded hands, compared to its average volume of 1,620,002. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The business has a 50-day moving average price of $196.82 and a two-hundred day moving average price of $194.18. The company has a market capitalization of $51.04 billion, a P/E ratio of 11.33, a PEG ratio of 1.01 and a beta of 0.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts' consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities research analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Allstate announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

Several large investors have recently made changes to their positions in ALL. Apella Capital LLC increased its holdings in shares of Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock worth $623,000 after buying an additional 60 shares during the last quarter. Intrust Bank NA grew its position in Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock worth $2,340,000 after acquiring an additional 61 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock valued at $571,000 after acquiring an additional 62 shares during the last quarter. Mather Group LLC. raised its position in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock valued at $697,000 after purchasing an additional 62 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after purchasing an additional 62 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.