Allstate (NYSE:ALL) Hits New 52-Week High Following Analyst Upgrade

The Allstate Co. (NYSE:ALL) shares hit a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $215.00 to $216.00. UBS Group currently has a buy rating on the stock. Allstate traded as high as $195.87 and last traded at $195.65, with a volume of 1422478 shares trading hands. The stock had previously closed at $193.01.

A number of other research analysts have also weighed in on the stock. Evercore ISI raised their target price on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Morgan Stanley reduced their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group raised their price target on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group increased their price target on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.06.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 in the last 90 days. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALL. SPC Financial Inc. grew its holdings in shares of Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after buying an additional 54 shares in the last quarter. Fulton Breakefield Broenniman LLC acquired a new position in Allstate during the third quarter worth approximately $219,000. Sumitomo Life Insurance Co. lifted its holdings in Allstate by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,567 shares of the insurance provider’s stock valued at $1,245,000 after purchasing an additional 61 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of Allstate by 9.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,580 shares of the insurance provider’s stock worth $300,000 after buying an additional 131 shares during the last quarter. Finally, GenWealth Group Inc. acquired a new position in shares of Allstate in the third quarter valued at approximately $241,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 1.4 %

The firm has a 50-day simple moving average of $185.17 and a two-hundred day simple moving average of $173.33. The stock has a market cap of $51.63 billion, a P/E ratio of 42.99, a PEG ratio of 1.74 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.42) EPS. Equities research analysts expect that The Allstate Co. will post 15.19 earnings per share for the current fiscal year.

About Allstate

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.