Wells Fargo & Company Boosts Allstate (NYSE:ALL) Price Target to $187.00

Allstate (NYSE:ALL) had its price target upped by Wells Fargo & Company from $186.00 to $187.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 1.09% from the company’s current price.

Several other research firms also recently issued reports on ALL. Raymond James lifted their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Barclays cut their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Bank of America boosted their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $218.13.

Allstate Stock Performance

Shares of NYSE ALL traded up $2.44 during trading on Tuesday, reaching $184.98. 253,424 shares of the company traded hands, compared to its average volume of 2,207,501. 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 12-month low of $150.17 and a 12-month high of $209.88. The firm’s fifty day simple moving average is $195.85 and its 200 day simple moving average is $185.88. The stock has a market cap of $48.98 billion, a P/E ratio of 11.98, a PEG ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.81 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts anticipate that Allstate will post 16.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALL. FSA Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the third quarter worth $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Allstate in the third quarter valued at about $29,000. Peoples Bank KS bought a new position in Allstate during the fourth quarter valued at about $49,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Allstate in the third quarter valued at approximately $58,000. Institutional investors own 76.47% of the company’s stock.

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.