Allstate (NYSE:ALL) Price Target Raised to $235.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target for Allstate (NYSE: ALL) from $230.00 to $235.00, indicating a potential upside of 11.76% from the current stock price.
• The average analyst rating for Allstate is currently a "Moderate Buy", with one Strong Buy, thirteen Buy, three Hold, and one Sell ratings.
• Allstate reported $5.94 earnings per share for the last quarter, significantly exceeding analysts' estimates of $3.20, while revenue was $15.05 billion, slightly below the consensus estimate of $16.59 billion.

Allstate (NYSE:ALL - Get Free Report) had its price objective hoisted by research analysts at BMO Capital Markets from $230.00 to $235.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. BMO Capital Markets' target price suggests a potential upside of 14.55% from the company's current price.

Several other analysts have also commented on the stock. Barclays reaffirmed an "underweight" rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Morgan Stanley upped their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Finally, William Blair initiated coverage on shares of Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.73.

Allstate Stock Down 0.7%

NYSE:ALL traded down $1.3910 on Wednesday, hitting $205.1590. 1,278,371 shares of the company's stock were exchanged, compared to its average volume of 1,547,023. The firm has a 50-day moving average price of $199.16 and a 200-day moving average price of $199.01. 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 has a 52 week low of $176.00 and a 52 week high of $214.76. The company has a market cap of $54.06 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.84 and a beta of 0.35.

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

Institutional Investors Weigh In On Allstate

Large investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate in the 4th quarter worth $231,000. MML Investors Services LLC increased its stake in shares of Allstate by 51.1% in the 4th quarter. MML Investors Services LLC now owns 10,634 shares of the insurance provider's stock worth $2,050,000 after acquiring an additional 3,595 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Allstate by 0.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 25,905 shares of the insurance provider's stock worth $4,994,000 after acquiring an additional 179 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in shares of Allstate by 4.8% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,501 shares of the insurance provider's stock worth $868,000 after acquiring an additional 207 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.