Allstate (NYSE:ALL) Given New $216.00 Price Target at Wells Fargo & Company

Allstate (NYSE:ALL) had its target price upped by Wells Fargo & Company from $202.00 to $216.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.33% from the company’s current price.

Several other research firms also recently commented on ALL. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded shares of Allstate from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. boosted their price target on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets lifted their target price on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Citigroup raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $236.53.

Allstate Stock Up 1.6%

Shares of NYSE:ALL traded up $3.24 during trading on Friday, hitting $201.25. 478,867 shares of the company were exchanged, compared to its average volume of 1,632,986. The firm’s 50 day moving average price is $201.89 and its 200-day moving average price is $201.03. Allstate has a 12-month low of $176.00 and a 12-month high of $215.70. 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 stock has a market capitalization of $53.03 billion, a P/E ratio of 9.46, a PEG ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the previous year, the company earned $3.91 earnings per share. Allstate’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allstate

Several institutional investors and hedge funds have recently made changes to their positions in the business. Guerra Pan Advisors LLC boosted its holdings in Allstate by 1.5% in the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after acquiring an additional 49 shares during the period. Rehmann Capital Advisory Group grew its stake in Allstate by 3.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after purchasing an additional 51 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of Allstate by 1.1% in the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after buying an additional 53 shares during the last quarter. Finally, L2 Asset Management LLC grew its position in shares of Allstate by 4.8% during the second quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock worth $235,000 after buying an additional 53 shares in the last quarter. 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.