Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $235.00 to $243.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 30.61% from the stock’s previous close.

ALL has been the subject of a number of other research reports. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group raised their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Raymond James upped their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $218.06.

Allstate Stock Performance

Shares of ALL stock opened at $186.05 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. Allstate has a 52 week low of $148.23 and a 52 week high of $209.88. The firm has a market capitalization of $49.27 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.70 and a beta of 0.52. The stock has a fifty day moving average of $195.91 and a 200 day moving average of $185.23.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, research analysts expect that Allstate will post 16.26 earnings per share for the current year.

Institutional Trading of Allstate

A number of large investors have recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate during the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Allstate during the third quarter valued at $29,000. Peoples Bank KS bought a new stake in shares of Allstate in the 4th quarter valued at about $49,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Allstate during the third quarter worth $58,000. 76.47% of the stock is currently 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.