Allstate (NYSE:ALL) Upgraded at Evercore ISI

Allstate (NYSE:ALL) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued to investors on Wednesday, MarketBeat reports.

Other equities analysts also recently issued research reports about the stock. Barclays lowered their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday. Jefferies Financial Group raised their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. BMO Capital Markets upped their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group increased their price target on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Bank of America boosted their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $216.94.

Allstate Stock Up 2.9 %

Shares of NYSE:ALL opened at $191.45 on Wednesday. The firm has a market capitalization of $50.70 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. Allstate has a 1 year low of $148.23 and a 1 year high of $209.88. 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’s 50-day moving average is $195.91 and its two-hundred day moving average is $185.23.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping 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 firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts predict that Allstate will post 16.26 EPS for the current year.

Hedge Funds Weigh In On Allstate

Large investors have recently modified their holdings of the business. SPC Financial Inc. grew its holdings in Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after acquiring an additional 54 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Allstate by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after purchasing an additional 54 shares during the period. Abacus Planning Group Inc. boosted its holdings in Allstate by 2.4% during 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 in the last quarter. Chicago Partners Investment Group LLC grew its position in Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after buying an additional 59 shares during the period. 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 owned by hedge funds and other 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.