BMO Capital Markets Issues Positive Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its price target boosted by stock analysts at BMO Capital Markets from $235.00 to $244.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 23.29% from the company’s previous close.

ALL has been the topic of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Wolfe Research upgraded Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Morgan Stanley increased their target price on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Roth Capital set a $230.00 price target on Allstate and gave the stock a “buy” rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.27.

Allstate Price Performance

NYSE:ALL opened at $197.91 on Friday. Allstate has a 52-week low of $176.00 and a 52-week high of $215.70. The stock has a fifty day moving average of $201.89 and a 200 day moving average of $201.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $52.15 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The firm had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.91 EPS. On average, research analysts expect that Allstate will post 18.74 EPS for the current fiscal year.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arlington Trust Co LLC boosted its stake in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in Allstate during the 1st quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Finally, Clearstead Trust LLC grew its stake in shares of Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.