Allstate (NYSE:ALL) Stock Price Expected to Rise, UBS Group Analyst Says

Allstate (NYSE:ALL) had its price objective lifted by equities research analysts at UBS Group from $250.00 to $255.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. UBS Group’s target price would indicate a potential upside of 24.85% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Wolfe Research upgraded Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. BMO Capital Markets increased their price objective on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Jefferies Financial Group boosted their target price on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average price target of $236.87.

Allstate Price Performance

Allstate stock traded up $1.96 during midday trading on Monday, reaching $204.25. 644,053 shares of the stock were exchanged, compared to its average volume of 1,632,311. Allstate has a 52 week low of $176.00 and a 52 week high of $215.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $53.45 billion, a PE ratio of 9.61, a PEG ratio of 0.69 and a beta of 0.35. The company’s fifty day moving average is $201.86 and its 200-day moving average is $201.23.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.91 earnings per share. On average, sell-side analysts forecast that Allstate will post 18.74 EPS for the current year.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently made changes to their positions in ALL. Arlington Trust Co LLC lifted its stake in Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 89 shares during the period. Harbor Capital Advisors Inc. increased its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in Allstate in the 1st quarter worth $28,000. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the period. Finally, Clearstead Trust LLC lifted its position in shares of Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the period. 76.47% of the stock is owned by hedge funds and other 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.