Allstate (ALL) Price Target Raised to $100.00

Allstate (NYSE:ALL) had its price target upped by Morgan Stanley from $94.00 to $100.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other brokerages also recently weighed in on ALL. Wells Fargo & Co reissued a hold rating and issued a $94.00 price objective on shares of Allstate in a research note on Tuesday, March 12th. Zacks Investment Research downgraded Allstate from a buy rating to a hold rating in a research note on Friday, March 22nd. William Blair raised Allstate from an underperform rating to a market perform rating in a research note on Wednesday, February 6th. UBS Group raised their price objective on Allstate from $102.00 to $106.00 and gave the company a neutral rating in a research note on Tuesday, May 7th. Finally, ValuEngine raised Allstate from a sell rating to a hold rating in a research note on Monday, February 4th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Allstate has an average rating of Hold and a consensus price target of $101.73.

ALL opened at $96.91 on Tuesday. Allstate has a fifty-two week low of $77.00 and a fifty-two week high of $102.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $31.99 billion, a PE ratio of 12.01, a PEG ratio of 1.28 and a beta of 0.83.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.02. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period last year, the business earned $2.96 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Allstate will post 9 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners grew its holdings in Allstate by 17.1% in the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock valued at $1,045,965,000 after buying an additional 1,620,871 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Allstate by 1.1% in the 1st quarter. Macquarie Group Ltd. now owns 7,935,669 shares of the insurance provider’s stock valued at $747,380,000 after buying an additional 83,061 shares during the last quarter. Northern Trust Corp grew its holdings in Allstate by 2.1% in the 4th quarter. Northern Trust Corp now owns 6,681,038 shares of the insurance provider’s stock valued at $552,054,000 after buying an additional 135,679 shares during the last quarter. LSV Asset Management grew its holdings in Allstate by 3.6% in the 1st quarter. LSV Asset Management now owns 5,854,851 shares of the insurance provider’s stock valued at $551,409,000 after buying an additional 204,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Allstate by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 4,845,383 shares of the insurance provider’s stock valued at $455,613,000 after buying an additional 112,061 shares during the last quarter. 80.27% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Company Profile

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 insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Analyst Recommendations for Allstate (NYSE:ALL)

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