The Goldman Sachs Group Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL - Get Free Report) had its target price boosted by analysts at The Goldman Sachs Group from $209.00 to $230.00 in a 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 would suggest a potential upside of 16.82% from the stock's previous close.

Several other brokerages also recently commented on ALL. Roth Mkm reaffirmed a "buy" rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. Wells Fargo & Company upped their price objective on Allstate from $175.00 to $186.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. UBS Group lifted their price objective on shares of Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Raymond James increased their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a "strong-buy" rating in a research note on Friday, October 4th. Finally, Barclays upped their target price on Allstate from $175.00 to $187.00 and gave the stock an "underweight" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $214.19.

Allstate Stock Up 0.6 %

Shares of Allstate stock traded up $1.10 during trading hours on Friday, reaching $196.88. 1,394,742 shares of the company's stock were exchanged, compared to its average volume of 1,542,382. The stock has a market cap of $52.13 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.75 and a beta of 0.48. The company has a 50 day moving average of $189.79 and a two-hundred day moving average of $176.53. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. Allstate has a fifty-two week low of $131.65 and a fifty-two week high of $201.00.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating 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 the consensus estimate of $14.57 billion. During the same period last year, the company earned $0.81 earnings per share. The business's revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts forecast that Allstate will post 16.07 EPS for the current fiscal year.

Insider Transactions at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. This trade represents a 50.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the company's stock in a transaction dated 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. The trade was a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,049 shares of company stock valued at $26,106,112 over the last ninety days. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in shares of Allstate during the 3rd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate during the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the 3rd quarter worth $29,000. Versant Capital Management Inc boosted its position in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider's stock valued at $30,000 after buying an additional 78 shares during the period. Finally, Family Firm Inc. purchased a new stake in Allstate during the second quarter valued at about $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.