Allstate (NYSE:ALL) Price Target Raised to $216.00

Allstate (NYSE:ALL) had its price objective boosted by Wells Fargo & Company from $202.00 to $216.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Several other equities analysts have also recently issued reports on ALL. Wolfe Research upgraded Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Jefferies Financial Group upped their target price on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Roth Capital set a $230.00 price objective on Allstate and gave the company a “buy” rating in a report on Friday, September 26th. JPMorgan Chase & Co. raised their target price on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Allstate from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.53.

Allstate Trading Up 2.2%

Shares of ALL stock opened at $202.29 on Friday. Allstate has a 12-month low of $176.00 and a 12-month high of $215.70. The firm has a 50-day moving average price of $201.86 and a 200 day moving average price of $201.23. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $52.94 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.69 and a beta of 0.35.

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

Institutional Trading of Allstate

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