Allstate (NYSE:ALL) Price Target Raised to $260.00

Allstate (NYSE:ALL) had its price target increased by JPMorgan Chase & Co. from $254.00 to $260.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised their target price on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Evercore ISI set a $233.00 price target on Allstate and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Roth Capital set a $230.00 price objective on Allstate and gave the company a “buy” rating in a research note on Friday, September 26th. Cantor Fitzgerald raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, Barclays reissued 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.53.

Allstate Stock Performance

Shares of Allstate stock opened at $202.29 on Thursday. Allstate has a 12 month low of $176.00 and a 12 month high of $215.70. The firm has a market capitalization of $52.94 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.69 and a beta of 0.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $201.86 and a two-hundred day simple moving average of $201.19.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Avestar Capital LLC bought a new stake in Allstate in the 3rd quarter worth about $323,000. NewEdge Wealth LLC grew its stake in shares of Allstate by 1.2% in the third quarter. NewEdge Wealth LLC now owns 5,604 shares of the insurance provider’s stock worth $1,203,000 after acquiring an additional 69 shares during the period. Alberta Investment Management Corp raised its holdings in shares of Allstate by 18.6% during the third quarter. Alberta Investment Management Corp now owns 26,800 shares of the insurance provider’s stock valued at $5,753,000 after purchasing an additional 4,200 shares during the last quarter. Grange Capital LLC purchased a new position in shares of Allstate during the third quarter valued at approximately $3,405,000. Finally, Syon Capital LLC lifted its position in Allstate by 22.8% during the third quarter. Syon Capital LLC now owns 3,774 shares of the insurance provider’s stock valued at $810,000 after purchasing an additional 701 shares during the period. 76.47% of the stock is owned by institutional investors.

About Allstate

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.