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

Allstate (NYSE:ALL) had its price target hoisted by Wells Fargo & Company from $175.00 to $186.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group increased their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group lifted their price target on shares of Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James raised their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $210.31.

Allstate Trading Up 0.9 %

NYSE ALL opened at $190.55 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $50.46 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.71 and a beta of 0.48. The stock’s 50-day simple moving average is $188.89 and its two-hundred day simple moving average is $175.59. Allstate has a twelve month low of $127.93 and a twelve month high of $198.79.

Allstate (NYSE:ALL) last posted its quarterly earnings results 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 business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company earned $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts forecast that Allstate will post 15.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 192,530 shares of company stock valued at $34,967,665. Insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently made changes to their positions in the company. SPC Financial Inc. increased its position in Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares during the period. Lake Street Advisors Group LLC grew its position in Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 54 shares during the period. Abacus Planning Group Inc. boosted its stake in shares of Allstate by 2.4% in the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after buying an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after purchasing an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. increased its holdings in Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares in the last quarter. 76.47% of the stock is currently 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.