Allstate (NYSE:ALL) Price Target Raised to $208.00 at Barclays

Key Points

• Barclays raised its price target on Allstate from $207 to $208 but kept an "underweight" rating, implying roughly a 1.8% downside from the current price.
• Analyst opinions are mixed: MarketBeat's consensus is a "Moderate Buy" with an average price target of $238.53, while individual targets range roughly from the low $200s to $260.
• Allstate posted a strong earnings beat (Q EPS $14.31 vs. $8.72), with the stock trading near $211.82, a low P/E of 5.55, ROE of 39.2%, and a market cap around $55 billion.

Allstate (NYSE:ALL - Get Free Report) had its price target lifted by analysts at Barclays from $207.00 to $208.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the insurance provider's stock. Barclays's target price indicates a potential downside of 1.80% from the company's current price.

ALL has been the subject of several other research reports. Citigroup boosted their price target on Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Morgan Stanley reissued an "equal weight" rating and issued a $215.00 price target (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. The Goldman Sachs Group reissued a "neutral" rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Finally, Wells Fargo & Company lowered their price target on Allstate from $228.00 to $227.00 and set an "equal weight" rating for the company in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $238.53.

Allstate Stock Up 0.6%

Shares of ALL traded up $1.29 during trading hours on Wednesday, reaching $211.82. The company's stock had a trading volume of 128,977 shares, compared to its average volume of 1,661,066. The firm has a market cap of $54.97 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 0.42 and a beta of 0.22. Allstate has a 1-year low of $180.00 and a 1-year high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $206.87 and a two-hundred day moving average of $205.25.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts' consensus estimates of $8.72 by $5.59. The company had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.67 EPS. As a group, research analysts predict that Allstate will post 18.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in Allstate in the fourth quarter valued at $25,000. Harbor Capital Advisors Inc. grew its position in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 55 shares during the period. Navalign LLC bought a new stake in Allstate in the fourth quarter valued at $27,000. Barnes Dennig Private Wealth Management LLC grew its position in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 73 shares during the period. Finally, Dorato Capital Management bought a new stake in Allstate in the fourth quarter valued at $27,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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