Allstate (NYSE:ALL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Allstate (NYSE:ALL) had its price target boosted by equities research analysts at Wells Fargo & Company from $202.00 to $216.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.78% from the company’s current price.

A number of other research firms have also recently weighed in on ALL. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a report on Wednesday, October 8th. Roth Capital set a $230.00 target price on shares of Allstate and gave the company a “buy” rating in a research report on Friday, September 26th. Barclays restated an “underweight” rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.53.

Allstate Stock Performance

Shares of NYSE:ALL opened at $202.29 on Friday. Allstate has a 52 week low of $176.00 and a 52 week high of $215.70. The firm has a 50 day moving average of $201.86 and a 200 day moving average of $201.19. The company has a market capitalization of $52.94 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share 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 firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the prior year, the business posted $3.91 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allstate

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Allstate in the 2nd quarter worth $482,870,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the period. Boston Partners raised its stake in shares of Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after purchasing an additional 2,134,893 shares during the last quarter. Swedbank AB lifted its holdings in shares of Allstate by 2,157.8% during the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after purchasing an additional 823,559 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Allstate by 27.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock worth $482,073,000 after purchasing an additional 497,982 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.