Brokerages Set Allstate Corp. (ALL) Target Price at $72.89
Allstate Corp. (NYSE:ALL) has been assigned an average rating of “Buy” from the sixteen research firms that are presently covering the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is GBX 73.11 ($0.91).
Several analysts have issued reports on the stock. Deutsche Bank AG upped their price target on shares of Allstate Corp. from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Allstate Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Credit Suisse Group AG set a $73.00 price target on shares of Allstate Corp. and gave the company a “buy” rating in a research report on Monday, September 12th. JPMorgan Chase & Co. restated a “buy” rating on shares of Allstate Corp. in a research report on Thursday, November 3rd. Finally, Barclays PLC restated an “overweight” rating and set a $79.00 price target (up from $74.00) on shares of Allstate Corp. in a research report on Friday, September 30th.
Shares of Allstate Corp. (NYSE:ALL) opened at 69.64 on Thursday. Allstate Corp. has a 52 week low of $56.03 and a 52 week high of $70.38. The stock has a 50 day moving average price of $68.29 and a 200 day moving average price of $68.10. The firm has a market capitalization of $25.64 billion, a P/E ratio of 18.86 and a beta of 0.96.
Allstate Corp. (NYSE:ALL) last announced its earnings results on Wednesday, November 2nd. The company reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Allstate Corp. had a net margin of 4.25% and a return on equity of 9.16%. The company earned $7.87 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Allstate Corp. will post $4.25 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Allstate Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 22,090,529 shares of the company’s stock worth $1,545,232,000 after buying an additional 85,089 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Allstate Corp. by 2.9% in the second quarter. Macquarie Group Ltd. now owns 10,458,406 shares of the company’s stock worth $731,566,000 after buying an additional 296,985 shares during the period. Boston Partners boosted its stake in shares of Allstate Corp. by 0.6% in the third quarter. Boston Partners now owns 9,515,049 shares of the company’s stock worth $658,251,000 after buying an additional 59,779 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Allstate Corp. by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 6,355,789 shares of the company’s stock worth $444,586,000 after buying an additional 811,752 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Allstate Corp. by 18.8% in the third quarter. Northern Trust Corp now owns 6,163,038 shares of the company’s stock worth $426,360,000 after buying an additional 973,808 shares during the period. 76.26% of the stock is owned by institutional investors.
About Allstate Corp.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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