Allstate (NYSE:ALL) has been given a $100.00 price target by equities researchers at Wells Fargo & Co in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Co’s price objective would suggest a potential upside of 22.87% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Allstate from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Monday, August 27th. Citigroup set a $115.00 price target on shares of Allstate and gave the company a “buy” rating in a report on Friday, October 12th. Credit Suisse Group decreased their price target on shares of Allstate from $114.00 to $112.00 and set a “buy” rating on the stock in a report on Tuesday, August 28th. Edward Jones upgraded shares of Allstate from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America decreased their price target on shares of Allstate from $113.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $102.82.
NYSE ALL traded down $1.01 during mid-day trading on Thursday, reaching $81.39. 23,518 shares of the stock were exchanged, compared to its average volume of 1,855,948. Allstate has a 1-year low of $81.45 and a 1-year high of $105.36. The firm has a market cap of $28.41 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.26 and a current ratio of 0.26.
Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.48% and a net margin of 9.38%. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the business posted $1.60 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Allstate will post 8.89 EPS for the current year.
In other Allstate news, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total value of $64,115.52. Following the transaction, the executive vice president now owns 2,102 shares in the company, valued at approximately $193,636.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ALL. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Allstate in the 3rd quarter valued at $110,000. Stelac Advisory Services LLC purchased a new position in shares of Allstate in the 3rd quarter valued at $128,000. O Shaughnessy Asset Management LLC raised its stake in shares of Allstate by 1,316.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,331 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 1,237 shares during the period. Cornerstone Wealth Management LLC purchased a new position in shares of Allstate in the 3rd quarter valued at $146,000. Finally, Denali Advisors LLC purchased a new position in shares of Allstate in the 3rd quarter valued at $158,000. Institutional investors own 77.15% of the company’s stock.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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