Allstate (NYSE:ALL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Allstate (NYSE:ALL) had its price objective raised by The Goldman Sachs Group from $209.00 to $230.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 16.82% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on ALL. Bank of America lifted their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. UBS Group boosted their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, BMO Capital Markets boosted their price target on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

Allstate Price Performance

NYSE:ALL opened at $196.88 on Friday. The stock’s fifty day moving average is $190.01 and its two-hundred day moving average is $176.72. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.75 and a beta of 0.48. Allstate has a 52 week low of $131.65 and a 52 week high of $201.00.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts expect that Allstate will post 16.07 EPS for the current year.

Insider Transactions at Allstate

In other Allstate news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. This trade represents a 77.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,049 shares of company stock valued at $26,106,112. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares during the last quarter. LRI Investments LLC grew its position in shares of Allstate by 334.8% during the third quarter. LRI Investments LLC now owns 17,388 shares of the insurance provider’s stock worth $3,298,000 after acquiring an additional 13,389 shares during the last quarter. PYA Waltman Capital LLC increased its holdings in shares of Allstate by 3.5% in the 3rd quarter. PYA Waltman Capital LLC now owns 15,238 shares of the insurance provider’s stock valued at $2,890,000 after acquiring an additional 520 shares during the period. SGL Investment Advisors Inc. purchased a new stake in Allstate in the 3rd quarter valued at $545,000. Finally, EWA LLC acquired a new stake in Allstate during the 3rd quarter worth $242,000. 76.47% of the stock is owned by hedge funds and other 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.