Allstate (NYSE:ALL) Reaches New 52-Week High Following Analyst Upgrade

Shares of The Allstate Co. (NYSE:ALL - Get Free Report) hit a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from $231.00 to $267.00. Jefferies Financial Group currently has a buy rating on the stock. Allstate traded as high as $199.20 and last traded at $198.89, with a volume of 22936 shares. The stock had previously closed at $196.90.

ALL has been the subject of several other reports. Bank of America upped their target price on Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a report on Friday, October 18th. Evercore ISI boosted their price target on shares of Allstate from $191.00 to $195.00 and gave the company an "in-line" rating in a report on Wednesday, October 9th. UBS Group increased their price objective on shares of Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Morgan Stanley boosted their target price on shares of Allstate from $220.00 to $228.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Raymond James lifted their price target on Allstate from $205.00 to $220.00 and gave the company a "strong-buy" rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $212.56.

Insider Buying and Selling at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred 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 transaction, the executive vice president now owns 19,163 shares of the company's stock, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 completion of the sale, the insider now directly owns 27,364 shares of the company's stock, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth Brady sold 49,481 shares of the business's stock in a transaction on Friday, August 16th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Allstate

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock worth $569,114,000 after purchasing an additional 472,040 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock valued at $287,851,000 after buying an additional 145,986 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider's stock valued at $229,545,000 after buying an additional 47,038 shares during the period. Pathway Financial Advisers LLC lifted its stake in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock worth $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider's stock worth $160,948,000 after acquiring an additional 31,789 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Up 0.3 %

The company has a 50 day simple moving average of $189.09 and a two-hundred day simple moving average of $175.87. 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 company has a market cap of $52.30 billion, a PE ratio of 12.79, a PEG ratio of 1.83 and a beta of 0.48.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The company's revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Co. will post 15.32 EPS for the current year.

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.