Allstate (NYSE:ALL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Allstate (NYSE:ALL) had its target price increased by stock analysts at JPMorgan Chase & Co. from $235.00 to $254.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 23.55% from the company’s current price.

ALL has been the topic of a number of other research reports. Citigroup upgraded shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Barclays reiterated an “underweight” rating and set a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. BMO Capital Markets lifted their price objective on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Finally, Morgan Stanley lifted their price objective on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $234.50.

Allstate Stock Down 1.6%

Shares of Allstate stock opened at $205.59 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company has a 50-day moving average of $206.06 and a 200 day moving average of $201.13. The firm has a market cap of $54.18 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.80 and a beta of 0.38. Allstate has a 1 year low of $176.00 and a 1 year high of $215.70.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 EPS. As a group, sell-side analysts anticipate that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after buying an additional 435,145 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock worth $2,424,710,000 after buying an additional 2,374,684 shares during the period. Geode Capital Management LLC boosted its stake in Allstate by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock worth $1,345,961,000 after buying an additional 79,366 shares during the period. Franklin Resources Inc. boosted its stake in Allstate by 2.5% during the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after buying an additional 112,858 shares during the period. Finally, GQG Partners LLC boosted its stake in Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock worth $912,288,000 after buying an additional 89,185 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.