Allstate (NYSE:ALL) PT Set at $202.00 by Wells Fargo & Company

Key Points

• Wells Fargo & Company has increased its price target for Allstate stock from $197.00 to $202.00, but maintains an "equal weight" rating, indicating a potential downside of 1.50% from the previous close.
• Other analysts have also raised their price targets for Allstate, with UBS Group setting a target of $235.00 and Raymond James Financial at $260.00, suggesting a positive sentiment towards the stock.
• Allstate's latest earnings report showed a significant EPS of $5.94 for the quarter, significantly surpassing the consensus estimate of $3.20, while revenues increased by 5.8% year-over-year.

Allstate (NYSE:ALL - Get Free Report) has been assigned a $202.00 price target by Wells Fargo & Company in a report released on Tuesday, MarketBeat reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price target points to a potential downside of 1.71% from the stock's previous close.

Several other research firms also recently commented on ALL. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, William Blair began coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.40.

Allstate Trading Up 1.2%

NYSE:ALL opened at $205.51 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50-day moving average of $198.32 and a 200-day moving average of $197.46. The company has a market cap of $54.15 billion, a PE ratio of 9.66, a PEG ratio of 0.87 and a beta of 0.35. Allstate has a one year low of $169.20 and a one year high of $213.18.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. Arlington Trust Co LLC lifted its stake in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after buying an additional 89 shares in the last quarter. Hughes Financial Services LLC bought a new stake in Allstate during the 1st quarter worth approximately $28,000. Kapitalo Investimentos Ltda bought a new stake in Allstate during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its holdings in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider's stock worth $33,000 after acquiring an additional 126 shares during the period. Finally, Hilltop National Bank bought a new stake in Allstate during the 2nd quarter worth approximately $34,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.