Allstate (ALL) PT Set at $100.00 by Wells Fargo & Co

Allstate (NYSE:ALL) has been given a $100.00 price objective by equities research analysts at Wells Fargo & Co in a report released on Thursday. The brokerage presently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Co’s price target suggests a potential upside of 6.70% from the company’s current price.

ALL has been the subject of a number of other research reports. B. Riley lifted their price objective on shares of Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a research report on Wednesday, July 18th. Citigroup decreased their price objective on shares of Allstate from $108.00 to $107.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Credit Suisse Group started coverage on shares of Allstate in a research report on Tuesday, August 7th. They issued an “outperform” rating and a $114.00 price objective for the company. Finally, Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Monday, August 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Allstate has an average rating of “Hold” and an average target price of $103.92.

Shares of ALL stock opened at $93.72 on Thursday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.30. Allstate has a 1 year low of $88.29 and a 1 year high of $105.36. The firm has a market capitalization of $31.35 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.87.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts expect that Allstate will post 9.25 EPS for the current year.

In related news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the completion of the sale, the executive vice president now owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $92.12, for a total transaction of $64,115.52. Following the sale, the executive vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $193,636.24. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Allstate by 10.6% during the 3rd quarter. BlackRock Inc. now owns 27,138,023 shares of the insurance provider’s stock worth $2,678,525,000 after buying an additional 2,608,827 shares during the period. Boston Partners boosted its holdings in shares of Allstate by 11.2% during the 2nd quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock worth $959,406,000 after buying an additional 1,061,730 shares during the period. Macquarie Group Ltd. raised its stake in Allstate by 4.3% in the 2nd quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock worth $682,581,000 after purchasing an additional 305,110 shares in the last quarter. Northern Trust Corp raised its stake in Allstate by 0.4% in the 2nd quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock worth $623,554,000 after purchasing an additional 24,814 shares in the last quarter. Finally, LSV Asset Management raised its stake in Allstate by 2.1% in the 3rd quarter. LSV Asset Management now owns 5,520,094 shares of the insurance provider’s stock worth $544,833,000 after purchasing an additional 111,013 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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