Allstate (NYSE:ALL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Allstate (NYSE:ALLGet Free Report) had its price target boosted by analysts at 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 indicates a potential downside of 0.54% from the company’s current price.

ALL has been the subject of several other research reports. Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Bank of America raised their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price target 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. Finally, BMO Capital Markets increased their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $218.13.

Check Out Our Latest Stock Analysis on ALL

Allstate Price Performance

Shares of NYSE:ALL opened at $188.01 on Tuesday. The company has a 50-day moving average price of $195.89 and a two-hundred day moving average price of $186.07. Allstate has a twelve month low of $150.17 and a twelve month high of $209.88. 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 firm has a market capitalization of $49.79 billion, a PE ratio of 12.18, a P/E/G ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities analysts forecast that Allstate will post 16.26 EPS for the current year.

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently modified their holdings of ALL. GenWealth Group Inc. increased its holdings in shares of Allstate by 25.8% in the fourth quarter. GenWealth Group Inc. now owns 1,602 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 329 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Allstate by 9.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,660 shares of the insurance provider’s stock valued at $320,000 after acquiring an additional 144 shares during the last quarter. Bowman & Co S.C. grew its holdings in shares of Allstate by 4.3% in the fourth quarter. Bowman & Co S.C. now owns 6,435 shares of the insurance provider’s stock valued at $1,241,000 after purchasing an additional 266 shares in the last quarter. Ameritas Advisory Services LLC increased its position in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 2,643 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its position in Allstate by 4.7% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,480 shares of the insurance provider’s stock valued at $478,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

About Allstate

(Get Free Report)

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.

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Analyst Recommendations for Allstate (NYSE:ALL)

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