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

Allstate (NYSE:ALL) had its target price reduced by stock analysts at Mizuho from $281.00 to $265.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Mizuho’s price target points to a potential upside of 29.59% from the company’s current price.

ALL has been the topic of a number of other reports. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Zacks Research raised Allstate from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Citigroup increased their price target on Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Wells Fargo & Company dropped their price target on Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, February 20th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.94.

Allstate Price Performance

Allstate stock traded up $0.43 during mid-day trading on Friday, hitting $204.50. 417,567 shares of the company were exchanged, compared to its average volume of 1,709,007. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $204.37 and a 200 day moving average of $204.76. Allstate has a 1-year low of $176.00 and a 1-year high of $216.75. The company has a market capitalization of $53.07 billion, a PE ratio of 5.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the company earned $7.67 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Allstate will post 18.74 earnings per share for the current year.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

Several large investors have recently bought and sold shares of the business. World Investment Advisors raised its position in shares of Allstate by 26.2% during the 4th quarter. World Investment Advisors now owns 39,946 shares of the insurance provider’s stock valued at $8,315,000 after acquiring an additional 8,290 shares during the last quarter. Larry Mathis Financial Planning LLC acquired a new stake in shares of Allstate during the fourth quarter worth $293,000. Corient Private Wealth LLC grew its stake in shares of Allstate by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 250,249 shares of the insurance provider’s stock worth $52,092,000 after purchasing an additional 11,119 shares during the period. Hsbc Holdings PLC increased its holdings in Allstate by 8.1% in the fourth quarter. Hsbc Holdings PLC now owns 1,141,943 shares of the insurance provider’s stock valued at $238,232,000 after purchasing an additional 85,808 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Allstate by 39.1% in the fourth quarter. Pure Financial Advisors LLC now owns 1,850 shares of the insurance provider’s stock valued at $385,000 after buying an additional 520 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Company Profile

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.