Allstate (NYSE:ALL) Stock Price Expected to Rise, Evercore ISI Analyst Says

Allstate (NYSE:ALL) had its price target lifted by equities research analysts at Evercore ISI from $227.00 to $230.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 15.49% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Barclays decreased their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company raised their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their target price on Allstate from $240.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, StockNews.com lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Allstate Trading Up 1.0 %

Shares of ALL stock opened at $199.15 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $198.49 and a 200 day simple moving average of $194.88. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The stock has a market capitalization of $52.80 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same period in the prior year, the firm earned $5.13 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has initiated a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its stake in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock worth $338,000 after buying an additional 51 shares in the last quarter. Vantage Point Financial LLC boosted its position in shares of Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock valued at $310,000 after acquiring an additional 52 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Allstate by 0.7% in the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock valued at $1,558,000 after acquiring an additional 54 shares during the period. Achmea Investment Management B.V. raised its position in Allstate by 0.3% in the first quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider’s stock worth $4,262,000 after purchasing an additional 57 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its stake in Allstate by 1.7% during the first quarter. Avidian Wealth Enterprises LLC now owns 3,552 shares of the insurance provider’s stock worth $735,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.