Allstate (NYSE:ALL) Price Target Raised to $244.00

Allstate (NYSE:ALL) had its price objective hoisted by BMO Capital Markets from $235.00 to $244.00 in a research report released on Friday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the insurance provider’s stock.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI set a $233.00 price target on shares of Allstate and gave the company an “in-line” rating in a report on Wednesday, October 1st. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Finally, Roth Capital set a $230.00 price objective on shares of Allstate and gave the stock a “buy” rating in a report on Friday, September 26th. Two equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $236.53.

Allstate Trading Up 2.2%

Shares of ALL stock opened at $202.29 on Friday. Allstate has a 1 year low of $176.00 and a 1 year high of $215.70. The firm has a market capitalization of $52.94 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The stock has a fifty day moving average of $201.86 and a two-hundred day moving average of $201.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL) last issued 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. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the previous year, the business earned $3.91 earnings per share. Allstate’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts expect that Allstate will post 18.74 EPS for the current year.

Institutional Investors Weigh In On Allstate

Institutional investors have recently made changes to their positions in the stock. Avestar Capital LLC acquired a new stake in shares of Allstate in the 3rd quarter valued at $323,000. NewEdge Wealth LLC increased 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 valued at $1,203,000 after buying an additional 69 shares during the period. Alberta Investment Management Corp raised its stake 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 acquiring an additional 4,200 shares during the last quarter. Grange Capital LLC bought a new position in Allstate during the 3rd quarter worth $3,405,000. Finally, Syon Capital LLC lifted its stake in shares of Allstate by 22.8% in the third quarter. Syon Capital LLC now owns 3,774 shares of the insurance provider’s stock worth $810,000 after acquiring an additional 701 shares during the period. 76.47% of the stock is currently owned by 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.