Piper Sandler Increases Allstate (NYSE:ALL) Price Target to $138.00

Allstate (NYSE:ALL) had its price target boosted by equities researchers at Piper Sandler from $137.00 to $138.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target points to a potential upside of 4.76% from the company’s current price.

ALL has been the subject of a number of other research reports. Barclays decreased their price target on shares of Allstate from $113.00 to $107.00 and set an “equal weight” rating for the company in a research note on Monday, August 14th. Citigroup boosted their price target on shares of Allstate from $135.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Morgan Stanley restated an “equal weight” rating and set a $117.00 price target on shares of Allstate in a research note on Tuesday, August 1st. StockNews.com started coverage on shares of Allstate in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Bank of America cut their price objective on shares of Allstate from $143.00 to $138.00 in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.57.

Allstate Stock Performance

NYSE:ALL opened at $131.73 on Friday. The company has a fifty day moving average of $115.75 and a 200-day moving average of $112.72. The firm has a market capitalization of $34.46 billion, a P/E ratio of -16.61 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.59. Allstate has a twelve month low of $100.57 and a twelve month high of $142.15.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.42. The business had revenue of $14.50 billion during the quarter, compared to analyst estimates of $12.78 billion. Allstate had a negative net margin of 3.51% and a negative return on equity of 10.53%. Allstate’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.56) EPS. As a group, sell-side analysts anticipate that Allstate will post -2.24 EPS for the current year.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. purchased a new position in shares of Allstate in the 2nd quarter worth about $200,000. First Capital Advisors Group LLC. purchased a new position in shares of Allstate in the 2nd quarter worth about $29,000. CVA Family Office LLC boosted its holdings in shares of Allstate by 48.4% in the 1st quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock worth $31,000 after buying an additional 92 shares during the last quarter. RVW Wealth LLC purchased a new stake in Allstate during the third quarter valued at about $33,000. Finally, Chilton Capital Management LLC purchased a new stake in Allstate during the first quarter valued at about $33,000. 77.23% of the stock is owned by hedge funds and other institutional investors.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.