Brokerages Set The Allstate Corporation (NYSE:ALL) Price Target at $234.50

The Allstate Corporation (NYSE:ALL) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $234.60.

Several equities analysts have commented on the company. Wolfe Research raised Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Roth Capital set a $230.00 price target on shares of Allstate and gave the stock a “buy” rating in a research note on Friday, September 26th. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Finally, Barclays reaffirmed an “underweight” rating and set a $198.00 price target (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st.

Allstate Stock Performance

Allstate stock opened at $195.96 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $51.64 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.38. Allstate has a 1-year low of $176.00 and a 1-year high of $215.70. The company’s 50-day moving average is $205.61 and its 200 day moving average is $200.90.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Allstate will post 18.74 EPS for the current year.

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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. lifted its position in shares of Allstate by 79.7% in 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 period. Hughes Financial Services LLC bought a new position in shares of Allstate during the first quarter valued at approximately $28,000. Clearstead Trust LLC increased its holdings in Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares during the period. Finally, Armstrong Advisory Group Inc. raised its stake in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

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.