Allstate (NYSE:ALL) Given Buy (B) Rating at Weiss Ratings

Key Points

• Allstate has been given a "buy (B)" rating by Weiss Ratings, reaffirming positive sentiment among some analysts despite mixed opinions from others.
• JPMorgan Chase increased its price target for Allstate from $235.00 to $254.00, while Barclays raised its target to $198.00, maintaining their "underweight" rating.
• The company's recent earnings beat expectations with an EPS of $5.94, significantly surpassing the consensus estimate of $3.20, and showing a year-over-year revenue increase of 5.8%.

Allstate (NYSE:ALL - Get Free Report)'s stock had its "buy (b)" rating reiterated by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other analysts also recently weighed in on ALL. JPMorgan Chase & Co. lifted their price target on Allstate from $235.00 to $254.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Barclays restated an "underweight" rating and issued a $198.00 price target (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Roth Capital set a $230.00 target price on Allstate and gave the stock a "buy" rating in a research report on Friday, September 26th. Wells Fargo & Company decreased their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, Evercore ISI set a $233.00 target price on Allstate and gave the stock an "in-line" rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Allstate has an average rating of "Moderate Buy" and a consensus target price of $234.27.

Allstate Stock Performance

Shares of ALL stock traded down $1.09 during midday trading on Friday, hitting $193.37. The company had a trading volume of 1,109,383 shares, compared to its average volume of 1,650,495. The company's 50 day simple moving average is $204.54 and its 200 day simple moving average is $200.89. Allstate has a 52-week low of $176.00 and a 52-week high of $215.70. The stock has a market cap of $50.95 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.71 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the business posted $1.61 EPS. The company's revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Allstate will post 18.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in ALL. Norges Bank acquired a new position in shares of Allstate in the second quarter worth $482,870,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after acquiring an additional 2,374,684 shares during the last quarter. Boston Partners raised its holdings in shares of Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after acquiring an additional 2,134,893 shares during the last quarter. Swedbank AB raised its holdings in shares of Allstate by 2,157.8% in the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider's stock worth $184,969,000 after acquiring an additional 823,559 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after acquiring an additional 497,982 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.

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