Allstate (NYSE:ALL) Given New $193.00 Price Target at JPMorgan Chase & Co.

Allstate (NYSE:ALL) had its target price lifted by research analysts at JPMorgan Chase & Co. from $185.00 to $193.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.76% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on ALL. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and raised their price objective for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Finally, Evercore ISI upped their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.18.

Allstate Price Performance

NYSE:ALL opened at $168.18 on Thursday. The firm’s fifty day moving average price is $165.88 and its two-hundred day moving average price is $150.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.37. The company has a market cap of $44.39 billion, a P/E ratio of 37.13, a P/E/G ratio of 0.40 and a beta of 0.51. Allstate has a one year low of $100.57 and a one year high of $177.37.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same period last year, the business posted ($1.30) earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts expect that Allstate will post 14.04 earnings per share for the current year.

Insider Transactions at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allstate

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Norges Bank acquired a new position in shares of Allstate during the fourth quarter valued at about $212,771,000. Invesco Ltd. boosted its position in shares of Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Allstate by 23.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after buying an additional 782,696 shares during the period. Finally, Palestra Capital Management LLC acquired a new position in Allstate during the 4th quarter worth approximately $83,561,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.