Allstate (NYSE:ALL) Price Target Raised to $216.00 at Wells Fargo & Company

Allstate (NYSE:ALL) had its target price upped by Wells Fargo & Company from $202.00 to $216.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

A number of other equities analysts also recently commented on ALL. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. BMO Capital Markets boosted their price objective on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup upgraded shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Jefferies Financial Group upped their price target on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, UBS Group increased their price objective on Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.53.

Allstate Stock Up 2.2%

Allstate stock traded up $4.28 during mid-day trading on Friday, reaching $202.29. 1,360,097 shares of the company were exchanged, compared to its average volume of 1,637,203. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $53.30 billion, a P/E ratio of 9.51, a PEG ratio of 0.69 and a beta of 0.35. The business has a fifty day moving average of $201.86 and a 200 day moving average of $201.14. Allstate has a 12-month low of $176.00 and a 12-month high of $215.70.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.91 EPS. Research analysts anticipate that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guerra Pan Advisors LLC lifted its holdings in shares of Allstate by 1.5% during the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after purchasing an additional 49 shares during the period. Rehmann Capital Advisory Group raised its position in Allstate by 3.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock worth $338,000 after buying an additional 51 shares during the last quarter. Focus Financial Network Inc. raised its position in Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after buying an additional 52 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 53 shares during the period. Finally, L2 Asset Management LLC boosted its holdings in shares of Allstate by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds 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.