The Allstate Corporation (NYSE:ALL) Receives $234.50 Consensus Target Price from Analysts

The Allstate Corporation (NYSE:ALL) has earned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $234.50.

Several equities analysts have weighed in on ALL shares. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Evercore ISI set a $233.00 price objective on Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods raised their price objective on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th.

Allstate Stock Performance

NYSE ALL opened at $205.80 on Friday. The company has a fifty day simple moving average of $206.12 and a 200 day simple moving average of $201.01. Allstate has a 12-month low of $176.00 and a 12-month high of $215.70. 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 company has a market cap of $54.23 billion, a P/E ratio of 9.68, a PEG ratio of 0.78 and a beta of 0.38.

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

Institutional Investors Weigh In On Allstate

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Allstate by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Allstate by 25.4% during the 1st 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 purchasing an additional 2,374,684 shares during the period. Geode Capital Management LLC raised its stake in shares of Allstate by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock worth $1,345,961,000 after purchasing an additional 79,366 shares during the period. Franklin Resources Inc. raised its stake in shares of Allstate by 2.5% during the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after purchasing an additional 112,858 shares during the period. Finally, GQG Partners LLC raised its stake in shares of Allstate by 2.1% during the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock worth $912,288,000 after purchasing an additional 89,185 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.