Allstate (NYSE:ALL) Given New $183.00 Price Target at Barclays

Allstate (NYSE:ALL) had its target price lowered by analysts at Barclays from $187.00 to $183.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the insurance provider’s stock. Barclays‘s target price would suggest a potential downside of 2.90% from the stock’s current price.

Several other analysts have also weighed in on ALL. Wells Fargo & Company lifted their target price on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Raymond James upped their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. BMO Capital Markets raised their target price on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. UBS Group upped their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $216.94.

Allstate Stock Performance

NYSE:ALL traded down $2.99 during trading hours on Monday, hitting $188.46. 1,135,820 shares of the company traded hands, compared to its average volume of 1,389,297. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. Allstate has a twelve month low of $148.23 and a twelve month high of $209.88. The firm has a 50-day moving average of $195.86 and a 200 day moving average of $184.80. The stock has a market capitalization of $49.90 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts forecast that Allstate will post 16.26 EPS for the current year.

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after acquiring an additional 126,922 shares in the last quarter. Geode Capital Management LLC increased its holdings in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares during the last quarter. Raymond James & Associates grew its position in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after acquiring an additional 145,986 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

About Allstate

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.