Allstate (NYSE:ALL) Price Target Raised to $260.00

Allstate (NYSE:ALL) had its price objective lifted by Morgan Stanley from $240.00 to $260.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

ALL has been the subject of a number of other reports. Atlantic Securities set a $319.00 price objective on Allstate in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on Allstate from $232.00 to $241.00 and gave the stock an “underperform” rating in a research note on Tuesday. Roth Capital set a $300.00 target price on Allstate in a research report on Thursday, August 6th. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Jefferies Financial Group cut their price target on shares of Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $273.48.

Allstate Price Performance

NYSE:ALL opened at $266.68 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.25. Allstate has a 52 week low of $191.13 and a 52 week high of $281.11. The stock’s 50-day moving average price is $246.06 and its 200-day moving average price is $231.16. The stock has a market capitalization of $65.99 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $2.87. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a return on equity of 38.37% and a net margin of 16.57%. Allstate’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.17 EPS. As a group, equities analysts expect that Allstate will post 37.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Allstate

Several institutional investors have recently bought and sold shares of ALL. Kendall Capital Management raised its holdings in shares of Allstate by 2.4% during the third quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock valued at $384,000 after acquiring an additional 40 shares during the last quarter. Insight Inv LLC boosted its stake in shares of Allstate by 0.3% in the third quarter. Insight Inv LLC now owns 13,682 shares of the insurance provider’s stock worth $3,035,000 after acquiring an additional 44 shares during the last quarter. Cornerstone Financial Management LLC boosted its stake in shares of Allstate by 24.9% in the second quarter. Cornerstone Financial Management LLC now owns 226 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 45 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Allstate by 3.2% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,436 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 45 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its position in shares of Allstate by 2.6% during the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock worth $435,000 after purchasing an additional 46 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.