Allstate (NYSE:ALL) Price Target Raised to $255.00

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

A number of other research firms have also weighed in on ALL. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Finally, Jefferies Financial Group upped their price objective on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.87.

Allstate Stock Up 1.0%

Shares of NYSE:ALL traded up $1.96 during midday trading on Monday, reaching $204.25. The company’s stock had a trading volume of 644,053 shares, compared to its average volume of 1,632,311. 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 firm has a 50 day moving average of $201.86 and a 200-day moving average of $201.23. The firm has a market capitalization of $53.45 billion, a P/E ratio of 9.61, a PEG ratio of 0.69 and a beta of 0.35. Allstate has a 12-month low of $176.00 and a 12-month high of $215.70.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Atlas Capital Advisors Inc. grew its stake in Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock valued at $1,390,000 after acquiring an additional 4,454 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its stake in Allstate by 103.5% in the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after purchasing an additional 6,590 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Allstate during the 1st quarter valued at about $22,405,000. Advisors Capital Management LLC purchased a new position in shares of Allstate during the first quarter valued at about $301,000. Finally, Nordea Investment Management AB increased its holdings in shares of Allstate by 434.3% in the second quarter. Nordea Investment Management AB now owns 116,705 shares of the insurance provider’s stock worth $23,115,000 after purchasing an additional 94,863 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

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.