The Allstate (NYSE:ALL) had its target price reduced by equities researchers at Morgan Stanley from $104.00 to $102.00 in a note issued to investors on Monday, Analyst Ratings Network reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 11.99% from the stock’s current price.
Several other analysts also recently weighed in on the stock. Credit Suisse Group reissued a “hold” rating on shares of The Allstate in a research note on Thursday, July 9th. ValuEngine upgraded shares of The Allstate from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Zacks Investment Research cut shares of The Allstate from a “buy” rating to a “hold” rating and set a $96.00 price objective on the stock. in a research report on Monday, September 21st. Wells Fargo & Company restated a “hold” rating on shares of The Allstate in a research report on Monday, October 5th. Finally, Keefe, Bruyette & Woods upgraded shares of The Allstate from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $107.00 to $108.00 in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The Allstate currently has an average rating of “Buy” and a consensus price target of $112.92.
The Allstate stock opened at $91.08 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $28.45 billion, a PE ratio of 6.82, a P/E/G ratio of 1.13 and a beta of 0.72. The firm has a fifty day simple moving average of $92.79 and a two-hundred day simple moving average of $95.40. The Allstate has a twelve month low of $64.13 and a twelve month high of $125.92.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Keebeck Wealth Management LLC purchased a new position in shares of The Allstate during the second quarter valued at about $31,000. Hoover Financial Advisors Inc. purchased a new stake in The Allstate in the second quarter worth about $32,000. Beese Fulmer Investment Management Inc. purchased a new stake in The Allstate in the second quarter worth about $39,000. Cordasco Financial Network increased its stake in shares of The Allstate by 794.1% during the second quarter. Cordasco Financial Network now owns 456 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 405 shares in the last quarter. Finally, Ovata Capital Management Ltd purchased a new position in shares of The Allstate during the second quarter valued at approximately $47,000. Institutional investors own 76.26% of the company’s stock.
The Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; liability insurance products; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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