Allstate (NYSE:ALL) Given New $283.00 Price Target at UBS Group

Key Points

• UBS raised its price target on Allstate to $283 from $275 but kept a neutral rating, implying about 8.3% upside from the share price cited in the report.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is “Hold,” with an average price target of $273.48; two analysts rate the stock Strong Buy, seven Buy, ten Hold, and three Sell.
• Allstate reported quarterly EPS of $9.76, beating the $6.89 consensus estimate, and revenue of $17.35 billion, above analysts’ $15.87 billion forecast.

Allstate (NYSE:ALL - Get Free Report) had its price target boosted by analysts at UBS Group from $275.00 to $283.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the insurance provider's stock. UBS Group's price objective suggests a potential upside of 8.30% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Evercore increased their price target on Allstate from $240.00 to $262.00 in a report on Thursday, October 8th. Citigroup upped their price objective on Allstate from $215.00 to $225.00 and gave the company a "sell" rating in a research note on Friday. Morgan Stanley upped their target price on shares of Allstate from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday. TD Cowen increased their target price on shares of Allstate from $231.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, September 23rd. Finally, Atlantic Securities set a $319.00 price target on shares of Allstate in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Allstate currently has an average rating of "Hold" and an average target price of $273.48.

Allstate Stock Performance

Shares of NYSE:ALL traded up $7.52 during trading hours on Tuesday, hitting $261.31. The stock had a trading volume of 846,546 shares, compared to its average volume of 1,750,784. The stock's fifty day simple moving average is $245.77 and its 200 day simple moving average is $230.14. The firm has a market capitalization of $66.07 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 0.59 and a beta of 0.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 1-year low of $191.13 and a 1-year high of $281.11.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.89 by $2.87. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.87 billion. Allstate had a return on equity of 38.48% and a net margin of 16.57%. Allstate's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $11.17 earnings per share. Sell-side analysts anticipate that Allstate will post 36.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Allstate during the second quarter worth about $5,439,448,000. Bank of America Corp DE boosted its stake in Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the last quarter. GQG Partners LLC acquired a new position in Allstate during the second quarter valued at approximately $1,245,710,000. Deutsche Bank AG acquired a new position in Allstate during the second quarter valued at approximately $1,008,648,000. Finally, Dimensional Fund Advisors LP grew its holdings in Allstate by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider's stock valued at $581,515,000 after purchasing an additional 154,259 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.

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