Bank of America Raises Allstate (NYSE:ALL) Price Target to $233.00

Allstate (NYSE:ALL - Free Report) had its price target boosted by Bank of America from $216.00 to $233.00 in a research report released on Friday, Benzinga reports. Bank of America currently has a buy rating on the insurance provider's stock.

ALL has been the subject of several other reports. The Goldman Sachs Group raised their price target on Allstate from $199.00 to $204.00 and gave the company a "buy" rating in a report on Thursday, August 15th. StockNews.com cut Allstate from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 21st. UBS Group raised their price target on Allstate from $215.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group raised their price objective on Allstate from $217.00 to $231.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $205.00 to $207.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued 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, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.59.

Allstate Stock Performance

Allstate stock traded down $0.07 during mid-day trading on Friday, reaching $195.44. 1,051,562 shares of the company were exchanged, compared to its average volume of 1,548,418. Allstate has a twelve month low of $121.70 and a twelve month high of $198.79. The firm's 50-day simple moving average is $186.17 and its two-hundred day simple moving average is $173.64. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $51.58 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share 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 company had revenue of $15.71 billion during the quarter, compared to analysts' expectations of $14.04 billion. During the same period last year, the firm earned ($4.42) EPS. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts predict that Allstate will post 15.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $16,140,600.00. Following the sale, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 192,530 shares of company stock valued at $34,967,665. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BDF Gestion acquired a new position in Allstate in the second quarter valued at $3,051,000. BNP Paribas Financial Markets lifted its stake in shares of Allstate by 55.8% during the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider's stock worth $37,825,000 after purchasing an additional 78,316 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Allstate during the second quarter worth about $476,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Allstate by 12.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider's stock worth $8,717,000 after purchasing an additional 5,586 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Allstate by 251.8% during the first quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider's stock worth $9,185,000 after purchasing an additional 38,001 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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.