Allstate (NYSE:ALL) Price Target Raised to $283.00

by · The Markets Daily

Allstate (NYSE:ALL – Free Report) had its price target raised by UBS Group from $275.00 to $283.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

ALL has been the topic of a number of other research reports. Argus set a $238.00 price objective on shares of Allstate in a report on Friday, August 28th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Atlantic Securities set a $319.00 target price on shares of Allstate in a report on Wednesday, July 15th. Roth Capital set a $300.00 price target on shares of Allstate in a research report on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of Allstate from $236.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Friday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Hold” and a consensus target price of $273.48.

Read Our Latest Research Report on Allstate

Allstate Stock Up 1.7%

Allstate stock opened at $266.68 on Tuesday. Allstate has a one year low of $191.13 and a one year high of $281.11. The stock has a fifty day moving average of $246.06 and a 200 day moving average of $231.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $65.99 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13.

Allstate (NYSE:ALL – Get Free Report) last announced its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $2.87. The business had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a return on equity of 38.37% and a net margin of 16.57%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm posted $11.17 earnings per share. As a group, sell-side analysts predict that Allstate will post 37.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Allstate in the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE purchased a new position in Allstate during the second quarter valued at approximately $1,410,362,000. GQG Partners LLC bought a new position in shares of Allstate in the second quarter worth approximately $1,245,710,000. Deutsche Bank AG bought a new position in shares of Allstate in the second quarter worth approximately $1,008,648,000. Finally, Legal & General Group Plc bought a new position in shares of Allstate in the second quarter worth approximately $455,302,000. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

(Get Free Report)

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.

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