Keefe, Bruyette & Woods Boosts Allstate (NYSE:ALL) Price Target to $250.00

Allstate (NYSE:ALL) had its price objective upped by equities research analysts at Keefe, Bruyette & Woods from $246.00 to $250.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 19.53% from the company’s previous close.

A number of other analysts have also commented on the company. UBS Group lifted their price target on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Monday. Citigroup upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Jefferies Financial Group boosted their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Finally, Morgan Stanley boosted their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.13.

Allstate Stock Performance

NYSE ALL opened at $209.16 on Tuesday. The firm’s fifty day moving average price is $202.04 and its two-hundred day moving average price is $201.45. The stock has a market cap of $54.73 billion, a PE ratio of 9.83, a PEG ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $215.70.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.91 EPS. On average, equities analysts expect that Allstate will post 18.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Allstate

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. increased its position in Allstate by 197.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock valued at $1,390,000 after purchasing an additional 4,454 shares during the period. Commonwealth Retirement Investments LLC boosted its stake in shares of Allstate by 103.5% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock valued at $2,609,000 after purchasing an additional 6,590 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Allstate during the 1st quarter valued at about $22,405,000. Advisors Capital Management LLC purchased a new position in shares of Allstate during the first quarter valued at about $301,000. Finally, Nordea Investment Management AB raised its stake in Allstate by 434.3% in the second quarter. Nordea Investment Management AB now owns 116,705 shares of the insurance provider’s stock worth $23,115,000 after buying an additional 94,863 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

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.