Wells Fargo & Company Issues Positive Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL - Free Report) had its price target increased by Wells Fargo & Company from $186.00 to $187.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider's stock.

Several other analysts have also commented on ALL. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Piper Sandler upped their price objective on Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Bank of America boosted their target price on Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Friday, October 18th. UBS Group increased their price target on Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group boosted their price objective on Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $218.13.

Allstate Stock Up 2.4 %

Shares of Allstate stock traded up $4.33 during trading hours on Tuesday, reaching $186.87. The company's stock had a trading volume of 1,554,264 shares, compared to its average volume of 2,377,830. Allstate has a one year low of $150.17 and a one year high of $209.88. The company has a market capitalization of $49.48 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock's fifty day simple moving average is $195.85 and its two-hundred day simple moving average is $185.88.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. On average, research analysts forecast that Allstate will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, November 29th. Allstate's payout ratio is 23.83%.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently modified their holdings of ALL. JPMorgan Chase & Co. boosted its holdings in shares of Allstate by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider's stock worth $109,605,000 after purchasing an additional 28,584 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider's stock worth $2,067,000 after buying an additional 2,888 shares in the last quarter. Bank of Montreal Can grew its position in Allstate by 1.7% during the third quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider's stock valued at $128,758,000 after acquiring an additional 11,195 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Allstate during the third quarter worth approximately $623,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Allstate in the 4th quarter worth approximately $14,518,000. 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.