Wells Fargo & Company Raises Allstate (NYSE:ALL) Price Target to $186.00

Allstate (NYSE:ALL) had its target price lifted by stock analysts at Wells Fargo & Company from $175.00 to $186.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.19% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, Raymond James boosted their target price on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.44.

Allstate Stock Up 0.8 %

Shares of NYSE ALL traded up $1.45 during mid-day trading on Tuesday, reaching $183.82. The company had a trading volume of 81,762 shares, compared to its average volume of 1,539,418. The firm has a 50 day simple moving average of $188.85 and a two-hundred day simple moving average of $175.41. Allstate has a 52-week low of $127.93 and a 52-week high of $198.79. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market cap of $48.68 billion, a P/E ratio of 11.92, a PEG ratio of 1.73 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts predict that Allstate will post 15.23 earnings per share for the current year.

Insider Transactions at Allstate

In related news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,530 shares of company stock valued at $34,967,665 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allstate

Institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate during the 3rd quarter worth about $29,000. Versant Capital Management Inc grew its holdings in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Allstate in the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC lifted its stake in shares of Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

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.