UBS Group Boosts Allstate (NYSE:ALL) Price Target to $235.00

Allstate (NYSE:ALL) had its price objective upped by research analysts at UBS Group from $230.00 to $235.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. UBS Group’s price objective would indicate a potential upside of 21.73% from the company’s current price.

A number of other brokerages also recently weighed in on ALL. Wells Fargo & Company lowered their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. William Blair began coverage on Allstate in a research note on Friday, June 6th. They set a “sector outperform” rating for the company. Barclays raised their target price on Allstate from $172.00 to $188.00 and gave the company an “underweight” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $226.93.

Allstate Stock Performance

Allstate stock traded down $0.34 during mid-day trading on Wednesday, hitting $193.06. 68,354 shares of the company’s stock traded hands, compared to its average volume of 1,633,944. The firm has a 50 day moving average price of $201.24 and a 200 day moving average price of $196.68. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The company has a market cap of $51.13 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. Allstate has a one year low of $158.04 and a one year high of $213.18.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the firm posted $5.13 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Allstate will post 18.74 EPS for the current year.

Hedge Funds Weigh In On Allstate

Institutional investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group grew its position in shares of Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after purchasing an additional 51 shares during the last quarter. Vantage Point Financial LLC lifted its stake in Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 52 shares during the last quarter. Confluence Wealth Services Inc. lifted its stake in Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after purchasing an additional 54 shares during the last quarter. Linscomb Wealth Inc. grew its position in Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after acquiring an additional 54 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock valued at $1,740,000 after purchasing an additional 55 shares during the last quarter. 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.