Allstate (NYSE:ALL) Given New $186.00 Price Target at Wells Fargo & Company

Allstate (NYSE:ALL) had its price target increased by stock analysts at Wells Fargo & Company from $175.00 to $186.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 1.43% from the company’s current price.

Several other analysts also recently weighed in on ALL. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Evercore ISI lifted their price objective on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. UBS Group increased their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group lifted their target price on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $209.50.

Allstate Stock Performance

NYSE:ALL opened at $188.69 on Tuesday. The company’s 50-day moving average is $188.89 and its two-hundred day moving average is $175.59. Allstate has a 1-year low of $127.93 and a 1-year high of $198.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $49.97 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.73 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. Analysts forecast that Allstate will post 15.23 EPS for the current year.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allstate

Several institutional investors have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC increased its stake in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the period. AQR Capital Management LLC raised its holdings in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after purchasing an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Allstate in the third quarter valued at about $77,819,000. Finally, Acadian Asset Management LLC boosted its holdings in Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after purchasing an additional 405,553 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.