Allstate (NYSE:ALL) Hits New 12-Month High After Analyst Upgrade

The Allstate Co. (NYSE:ALL - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $215.00 to $216.00. UBS Group currently has a buy rating on the stock. Allstate traded as high as $195.87 and last traded at $195.65, with a volume of 1422478 shares traded. The stock had previously closed at $193.01.

Other equities research analysts have also issued reports about the company. Bank of America lowered their price target on Allstate from $226.00 to $216.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. BMO Capital Markets raised their target price on Allstate from $191.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. StockNews.com lowered Allstate from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on Allstate from $205.00 to $207.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, TD Cowen raised their target price on Allstate from $193.00 to $224.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Allstate has an average rating of "Moderate Buy" and an average price target of $201.06.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company's stock, valued at $15,942,790.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred 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 directly owns 27,364 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 238,305 shares of company stock valued at $43,082,657 in the last ninety days. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Allstate

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Allstate in the first quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the first quarter worth $26,000. Versant Capital Management Inc raised its stake in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider's stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC raised its stake in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider's stock worth $53,000 after purchasing an additional 84 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Up 1.4 %

The stock has a market cap of $51.63 billion, a PE ratio of 43.19, a PEG ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company has a 50 day moving average price of $185.67 and a two-hundred day moving average price of $173.49.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion during the quarter, compared to analysts' expectations of $14.04 billion. During the same quarter in the prior year, the business posted ($4.42) earnings per share. The business's quarterly revenue was up 12.4% on a year-over-year basis. Analysts expect that The Allstate Co. will post 15.19 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.