Evercore ISI Upgrades Allstate (NYSE:ALL) to “Outperform”

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

Other equities research analysts have also issued reports about the company. Barclays cut their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday. Wells Fargo & Company boosted their price target on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Raymond James raised their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price 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, UBS Group increased their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $216.94.

Allstate Stock Up 2.9 %

Allstate stock opened at $191.45 on Wednesday. Allstate has a 12 month low of $148.23 and a 12 month high of $209.88. The stock 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. 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 business has a 50 day simple moving average of $195.91 and a 200-day simple moving average of $185.23.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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. The business 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 company’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. On average, analysts anticipate that Allstate will post 16.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new stake in shares of Allstate during the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate during the third quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate during the third quarter valued at about $29,000. Peoples Bank KS purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $49,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Allstate in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.