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

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

A number of other research firms also recently commented on ALL. Piper Sandler lifted their target price on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Morgan Stanley lifted their price objective on shares of Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Roth Mkm reiterated a “buy” rating and issued a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. Barclays boosted their target price on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.50.

Allstate Stock Up 2.0 %

NYSE:ALL opened at $188.69 on Tuesday. 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 twelve month low of $127.93 and a twelve month high of $198.79. The company has a market cap of $49.97 billion, a PE ratio of 12.22, a P/E/G ratio of 1.73 and a beta of 0.48. The company’s 50 day moving average is $188.89 and its two-hundred day moving average is $175.59.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. 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 was up 14.7% on a year-over-year basis. Analysts anticipate 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 business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John E. Dugenske sold 36,367 shares of the firm’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 value of $6,959,916.46. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate 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 sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,530 shares of company stock worth $34,967,665. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. BDF Gestion purchased a new position in shares of Allstate in the second quarter worth about $3,051,000. OFI Invest Asset Management purchased a new position in Allstate in the 2nd quarter worth approximately $476,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Allstate by 12.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 50,383 shares of the insurance provider’s stock worth $8,717,000 after purchasing an additional 5,586 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Allstate by 251.8% in the first quarter. SG Americas Securities LLC now owns 53,090 shares of the insurance provider’s stock valued at $9,185,000 after purchasing an additional 38,001 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Allstate by 351.6% in the first quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock valued at $11,284,000 after purchasing an additional 50,780 shares during the last quarter. Hedge funds and other institutional investors 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.