Allstate (NYSE:ALL) Lifted to Outperform at BMO Capital Markets

Allstate (NYSE:ALL) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a $191.00 target price on the insurance provider’s stock, up from their previous target price of $190.00. BMO Capital Markets’ price target would indicate a potential upside of 9.57% from the stock’s current price.

Several other analysts also recently weighed in on ALL. Piper Sandler boosted their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Wells Fargo & Company lifted their price target on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $194.00 target price on shares of Allstate in a research report on Friday, July 5th. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and boosted their target price for the company from $158.00 to $190.00 in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.06.

Allstate Stock Performance

Shares of ALL stock opened at $174.32 on Thursday. Allstate has a 12 month low of $104.29 and a 12 month high of $179.93. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $46.01 billion, a P/E ratio of 38.48, a PEG ratio of 1.95 and a beta of 0.48. The firm has a fifty day moving average price of $163.71 and a 200 day moving average price of $162.55.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the firm posted ($1.30) EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that Allstate will post 12.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allstate

Large investors have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Allstate during the first quarter worth about $25,000. Private Wealth Management Group LLC acquired a new stake in Allstate in the fourth quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in Allstate in the 1st quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate during the 1st quarter worth approximately $26,000. Finally, Versant Capital Management Inc raised its stake in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.