Mizuho Lowers Allstate (NYSE:ALL) Price Target to $265.00

Allstate (NYSE:ALL) had its target price cut by equities researchers at Mizuho from $281.00 to $265.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Mizuho’s target price would suggest a potential upside of 28.70% from the company’s previous close.

ALL has been the topic of several other research reports. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 target price (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. Roth Mkm boosted their price objective on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. William Blair cut shares of Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.94.

Allstate Price Performance

ALL stock opened at $205.91 on Friday. The firm has a 50 day moving average of $204.24 and a 200-day moving average of $204.78. The company has a market cap of $53.44 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.42 and a beta of 0.23. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. Allstate has a 12-month low of $176.00 and a 12-month high of $216.75.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the firm posted $7.67 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Allstate will post 18.74 EPS for the current fiscal year.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allstate

Hedge funds have recently modified their holdings of the company. MV Capital Management Inc. acquired a new position in shares of Allstate in the fourth quarter valued at approximately $25,000. Harbor Capital Advisors Inc. boosted its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth approximately $27,000. Barnes Dennig Private Wealth Management LLC grew its stake in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the period. Finally, Dorato Capital Management acquired a new position in Allstate in the 4th quarter valued at $27,000. 76.47% of the stock is owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.