Wells Fargo & Company Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

by · The Markets Daily

Allstate (NYSE:ALL – Get Free Report) had its target price upped by stock analysts at Wells Fargo & Company from $175.00 to $186.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.19% from the company’s current price.

A number of other research firms have also recently weighed in on ALL. TD Cowen upped their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Evercore ISI upped their price objective on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Bank of America lifted their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Roth Mkm restated a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lifted their price objective on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.44.

View Our Latest Research Report on Allstate

Allstate Stock Performance

NYSE:ALL traded up $1.45 during trading hours on Tuesday, reaching $183.82. The company had a trading volume of 81,762 shares, compared to its average volume of 1,539,418. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. Allstate has a 1-year low of $127.93 and a 1-year high of $198.79. The business’s 50 day moving average price is $188.85 and its 200-day moving average price is $175.41. The firm has a market cap of $48.68 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.73 and a beta of 0.48.

Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. Research analysts forecast that Allstate will post 15.23 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Allstate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Northwest Investment Counselors LLC purchased a new stake in Allstate during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the third quarter valued at $29,000. Versant Capital Management Inc increased its stake in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the period. Family Firm Inc. acquired a new stake in Allstate in the second quarter valued at approximately $38,000. Finally, MCF Advisors LLC increased its position in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

(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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