Allstate (NYSE:ALL – Get Free Report) had its price target upped by investment analysts at UBS Group from $275.00 to $283.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. UBS Group‘s price objective would indicate a potential upside of 8.30% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Bank of America upped their price target on shares of Allstate from $336.00 to $340.00 and gave the company a “buy” rating in a report on Monday, October 12th. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and set a $271.00 price objective on the stock. in a report on Friday. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley upped their target price on shares of Allstate from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Allstate presently has an average rating of “Hold” and a consensus price target of $273.48.
View Our Latest Research Report on Allstate
Allstate Stock Up 3.0%
Shares of ALL traded up $7.52 on Tuesday, hitting $261.31. The company’s stock had a trading volume of 846,546 shares, compared to its average volume of 1,750,784. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $245.77 and its 200-day moving average price is $230.14. Allstate has a fifty-two week low of $191.13 and a fifty-two week high of $281.11. The firm has a market capitalization of $66.07 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 0.59 and a beta of 0.13.
Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $2.87. The business had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a return on equity of 38.48% and a net margin of 16.57%. Allstate’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $11.17 EPS. On average, equities research analysts expect that Allstate will post 36.67 EPS for the current year.
Hedge Funds Weigh In On Allstate
A number of large investors have recently bought and sold shares of ALL. Sompo Asset Management Co. Ltd. raised its holdings in shares of Allstate by 7.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 10,092 shares of the insurance provider’s stock valued at $2,239,000 after purchasing an additional 692 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Allstate in the third quarter worth $3,857,000. Banco Santander S.A. boosted its holdings in Allstate by 2.3% during the third quarter. Banco Santander S.A. now owns 8,115 shares of the insurance provider’s stock worth $1,800,000 after purchasing an additional 181 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Allstate by 1.1% during the third quarter. HighTower Advisors LLC now owns 89,976 shares of the insurance provider’s stock worth $19,962,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its holdings in Allstate by 3.2% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,436 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.
About Allstate
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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