Allstate (ALL) Given a $100.00 Price Target at Wells Fargo & Co

Wells Fargo & Co set a $100.00 price objective on Allstate (NYSE:ALL) in a research note issued to investors on Thursday. The firm currently has a hold rating on the insurance provider’s stock.

A number of other equities analysts have also recently commented on ALL. B. Riley lifted their price objective on shares of Allstate from $84.00 to $88.00 and gave the stock a neutral rating in a research report on Monday, July 16th. 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 research report on Wednesday, July 18th. Citigroup reduced their price objective on shares of Allstate from $108.00 to $107.00 and set a buy rating for the company in a research report on Friday, July 20th. Credit Suisse Group initiated coverage on shares of Allstate in a research report on Tuesday, August 7th. They set an outperform rating and a $114.00 price objective for the company. Finally, Zacks Investment Research raised shares of Allstate from a hold rating to a buy rating and set a $111.00 price objective for the company in a research report on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Allstate presently has a consensus rating of Hold and a consensus price target of $103.92.

ALL traded up $0.10 during trading on Thursday, reaching $93.80. 83,599 shares of the stock were exchanged, compared to its average volume of 2,245,547. The company has a market cap of $31.35 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.18 and a beta of 0.87. Allstate has a twelve month low of $88.29 and a twelve month high of $105.36. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.30.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. Allstate had a return on equity of 15.48% and a net margin of 9.38%. Allstate’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. As a group, research analysts forecast that Allstate will post 9.25 earnings per share for the current year.

In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction 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 transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in ALL. Boston Partners boosted its position in shares of Allstate by 11.2% in the second quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock valued at $959,406,000 after acquiring an additional 1,061,730 shares during the period. Assenagon Asset Management S.A. lifted its position in Allstate by 394.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,106,269 shares of the insurance provider’s stock worth $109,189,000 after purchasing an additional 882,348 shares during the period. FMR LLC lifted its position in Allstate by 24.7% during the second quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock worth $373,917,000 after purchasing an additional 811,694 shares during the period. Millennium Management LLC lifted its position in Allstate by 101.9% during the second quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock worth $145,082,000 after purchasing an additional 802,167 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Allstate by 37.1% during the second quarter. Victory Capital Management Inc. now owns 2,103,032 shares of the insurance provider’s stock worth $191,944,000 after purchasing an additional 569,363 shares during the period. 76.37% of the stock is owned by institutional investors.

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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