Allstate (NYSE:ALL) Now Covered by Analysts at BMO Capital Markets

Investment analysts at BMO Capital Markets initiated coverage on shares of Allstate (NYSE:ALL – Get Rating) in a note issued to investors on Thursday, The Fly reports. The firm set a “market perform” rating and a $130.00 price target on the insurance provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 3.46% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ALL. Keefe, Bruyette & Woods upgraded Allstate from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $136.00 to $158.00 in a research note on Tuesday, October 11th. Barclays lifted their target price on Allstate from $112.00 to $128.00 and gave the company an “equal weight” rating in a report on Tuesday, November 8th. StockNews.com began coverage on Allstate in a report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley reduced their target price on Allstate from $140.00 to $137.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. Finally, Wells Fargo & Company reduced their target price on Allstate from $107.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.85.

Allstate Price Performance

ALL opened at $125.65 on Thursday. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of -88.49, a P/E/G ratio of 3.19 and a beta of 0.61. Allstate has a 1 year low of $111.85 and a 1 year high of $144.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s fifty day moving average price is $133.83 and its two-hundred day moving average price is $128.45.

Allstate (NYSE:ALL – Get Rating) last released its earnings results on Wednesday, November 2nd. The insurance provider reported ($1.56) EPS for the quarter, topping analysts’ consensus estimates of ($1.57) by $0.01. The company had revenue of $13.38 billion for the quarter, compared to analysts’ expectations of $13.30 billion. Allstate had a positive return on equity of 5.13% and a negative net margin of 0.41%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. As a group, analysts anticipate that Allstate will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of Allstate

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its stake in Allstate by 16.4% in the fourth quarter. DAVENPORT & Co LLC now owns 6,921 shares of the insurance provider’s stock worth $939,000 after buying an additional 975 shares in the last quarter. Newman Dignan & Sheerar Inc. boosted its stake in Allstate by 7.2% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 4,699 shares of the insurance provider’s stock worth $637,000 after buying an additional 316 shares in the last quarter. Everett Harris & Co. CA purchased a new stake in Allstate in the fourth quarter worth approximately $207,000. Wealth Management Partners LLC purchased a new stake in Allstate in the fourth quarter worth approximately $204,000. Finally, Emerald Advisors LLC purchased a new stake in Allstate in the fourth quarter worth approximately $224,000. Hedge funds and other institutional investors own 77.48% of the company’s stock.

About Allstate

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.