Wells Fargo & Company Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its price target boosted by Wells Fargo & Company from $186.00 to $187.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

Other analysts have also issued research reports about the company. Raymond James lifted their price objective on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. UBS Group lifted their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Piper Sandler boosted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Price Performance

NYSE:ALL opened at $186.87 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. Allstate has a one year low of $150.17 and a one year high of $209.88. The company has a fifty day moving average price of $195.89 and a 200 day moving average price of $186.07. The stock has a market cap of $49.48 billion, a P/E ratio of 12.10, a PEG ratio of 1.70 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts anticipate that Allstate will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a $0.92 dividend. The ex-dividend date was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.97%. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Hedge Funds Weigh In On Allstate

Several large investors have recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in Allstate in the third quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate during the third quarter worth approximately $29,000. Peoples Bank KS acquired a new position in Allstate in the fourth quarter valued at approximately $49,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Allstate in the 3rd quarter worth $58,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

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.