Allstate (ALL) PT Set at $100.00 by Wells Fargo & Co

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Allstate (NYSE:ALL) received a $100.00 target price from equities research analysts at Wells Fargo & Co in a report issued on Wednesday. The firm currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Co’s price target suggests a potential upside of 4.47% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup set a $115.00 target price on shares of Allstate and gave the stock a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 13th. ValuEngine upgraded shares of Allstate from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Credit Suisse Group cut their price objective on shares of Allstate from $114.00 to $112.00 and set a “buy” rating for the company in a report on Tuesday, August 28th. Finally, Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a report on Wednesday, July 18th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $104.62.

NYSE ALL opened at $95.72 on Wednesday. Allstate has a 12 month low of $88.29 and a 12 month high of $105.36. The company has a market cap of $33.06 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.21 and a beta of 0.91. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter last year, the business earned $1.60 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that Allstate will post 9.46 earnings per share for the current year.

In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the completion of the sale, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Susan L. Lees sold 22,189 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,432 shares of company stock valued at $5,386,208. Insiders own 1.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ALL. Summit Trail Advisors LLC grew its holdings in shares of Allstate by 11,436.6% in the first quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 146,160 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Allstate by 5.5% in the second quarter. DnB Asset Management AS now owns 44,046 shares of the insurance provider’s stock valued at $4,020,000 after purchasing an additional 2,300 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Allstate by 41.2% in the second quarter. IFM Investors Pty Ltd now owns 15,780 shares of the insurance provider’s stock valued at $1,440,000 after purchasing an additional 4,607 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Allstate by 12.2% in the second quarter. Fulton Bank N.A. now owns 16,481 shares of the insurance provider’s stock valued at $1,504,000 after purchasing an additional 1,787 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Allstate by 20.2% in the second quarter. State of Alaska Department of Revenue now owns 210,920 shares of the insurance provider’s stock valued at $19,248,000 after purchasing an additional 35,430 shares in the last quarter. 76.05% of the stock is owned by institutional investors and hedge funds.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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