Allstate Corporation (The) (ALL) Price Target Raised to $102.00 at UBS AG

Allstate Corporation (The) (NYSE:ALL) had its price objective raised by UBS AG from $93.00 to $102.00 in a research note released on Monday morning, www.benzinga.com reports. UBS AG currently has a neutral rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company reaffirmed a buy rating on shares of Allstate Corporation (The) in a research note on Thursday, August 17th. BidaskClub lowered shares of Allstate Corporation (The) from a strong-buy rating to a buy rating in a research note on Wednesday, July 12th. Buckingham Research began coverage on shares of Allstate Corporation (The) in a research note on Monday, September 11th. They set an underperform rating and a $74.00 target price on the stock. Deutsche Bank AG lowered shares of Allstate Corporation (The) from a buy rating to a hold rating and lifted their target price for the company from $90.00 to $96.00 in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group lifted their target price on shares of Allstate Corporation (The) from $91.00 to $95.00 and gave the company a neutral rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $93.00.

Shares of Allstate Corporation (ALL) opened at $98.95 on Monday. The firm has a market cap of $35,556.07, a PE ratio of 14.59, a PEG ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. Allstate Corporation has a 52 week low of $68.13 and a 52 week high of $100.31.

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Allstate Corporation (The) had a net margin of 7.32% and a return on equity of 13.11%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. sell-side analysts forecast that Allstate Corporation will post 6.55 earnings per share for the current fiscal year.

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Allstate Corporation (The) declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 63% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In other Allstate Corporation (The) news, President Matthew E. Winter sold 48,059 shares of Allstate Corporation (The) stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.58% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its holdings in Allstate Corporation (The) by 11.1% in the third quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock worth $475,991,000 after buying an additional 518,058 shares during the last quarter. Zeke Capital Advisors LLC raised its holdings in Allstate Corporation (The) by 117.8% in the third quarter. Zeke Capital Advisors LLC now owns 6,401 shares of the insurance provider’s stock worth $588,000 after buying an additional 3,462 shares during the last quarter. Amalgamated Bank raised its holdings in Allstate Corporation (The) by 1.6% in the third quarter. Amalgamated Bank now owns 42,351 shares of the insurance provider’s stock worth $3,892,000 after buying an additional 680 shares during the last quarter. Iberiabank Corp purchased a new position in Allstate Corporation (The) in the third quarter worth about $761,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Allstate Corporation (The) by 8.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,388 shares of the insurance provider’s stock worth $2,701,000 after buying an additional 2,307 shares during the last quarter. 76.49% of the stock is owned by institutional investors and hedge funds.

Allstate Corporation (The) Company Profile

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Analyst Recommendations for Allstate Corporation (The) (NYSE:ALL)

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