The Allstate (NYSE:ALL) had its price objective upped by investment analysts at Morgan Stanley from $107.00 to $126.00 in a report released on Tuesday, AnalystRatings.net reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target points to a potential upside of 15.72% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of The Allstate from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a research report on Monday, September 21st. Keefe, Bruyette & Woods upgraded The Allstate from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $107.00 to $108.00 in a report on Tuesday, September 22nd. Raymond James increased their price target on The Allstate from $120.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 7th. Barclays started coverage on The Allstate in a report on Tuesday, November 17th. They set an “overweight” rating and a $107.00 price target on the stock. Finally, BidaskClub upgraded The Allstate from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $116.87.
ALL opened at $108.88 on Tuesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $33.11 billion, a PE ratio of 7.64, a PEG ratio of 1.16 and a beta of 0.81. The Allstate has a 1-year low of $64.13 and a 1-year high of $125.92. The firm has a 50-day moving average price of $106.59 and a two-hundred day moving average price of $96.70.
The Allstate (NYSE:ALL) last posted its quarterly earnings data on Monday, November 9th. The insurance provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $1.17. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.44 billion. The Allstate had a net margin of 10.68% and a return on equity of 16.70%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.84 EPS. On average, research analysts predict that The Allstate will post 12.49 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of The Allstate by 3.2% in the third quarter. BlackRock Inc. now owns 27,438,019 shares of the insurance provider’s stock worth $2,583,015,000 after acquiring an additional 854,644 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of The Allstate by 42.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,683,340 shares of the insurance provider’s stock valued at $260,257,000 after purchasing an additional 804,329 shares during the period. Allianz Asset Management GmbH boosted its holdings in The Allstate by 79.1% during the third quarter. Allianz Asset Management GmbH now owns 1,814,066 shares of the insurance provider’s stock worth $170,776,000 after buying an additional 801,083 shares in the last quarter. Voloridge Investment Management LLC grew its position in The Allstate by 147.0% during the third quarter. Voloridge Investment Management LLC now owns 616,986 shares of the insurance provider’s stock valued at $58,083,000 after buying an additional 367,210 shares during the period. Finally, State of Tennessee Treasury Department purchased a new position in The Allstate in the third quarter valued at $33,219,000. 76.95% of the stock is currently owned by institutional investors.
About The Allstate
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; liability insurance products; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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