Allstate (NYSE:ALL) Price Target Cut to $150.00

Allstate (NYSE:ALLGet Rating) had its price objective reduced by stock analysts at Citigroup from $160.00 to $150.00 in a research note issued on Thursday, The Fly reports. Citigroup’s target price suggests a potential upside of 19.38% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Evercore ISI cut their target price on shares of Allstate to $125.00 in a research note on Thursday, October 20th. Keefe, Bruyette & Woods raised shares of Allstate from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $136.00 to $158.00 in a research note on Tuesday, October 11th. Piper Sandler lifted their price target on shares of Allstate from $147.00 to $153.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. UBS Group lifted their price target on shares of Allstate from $150.00 to $160.00 in a research report on Tuesday, January 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Allstate from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.85.

Allstate Price Performance

Shares of Allstate stock opened at $125.65 on Thursday. The firm has a market cap of $33.32 billion, a PE ratio of -88.49, a price-to-earnings-growth ratio of 3.19 and a beta of 0.61. Allstate has a 12-month low of $111.85 and a 12-month high of $144.46. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $133.83 and its two-hundred day simple moving average is $128.45.

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

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently modified their holdings of ALL. Field & Main Bank bought a new position in shares of Allstate in the second quarter worth approximately $25,000. Accurate Wealth Management LLC bought a new position in shares of Allstate in the fourth quarter worth approximately $27,000. Curi Wealth Management LLC boosted its position in shares of Allstate by 7,266.7% in the second quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 218 shares during the period. Heritage Wealth Management LLC bought a new position in shares of Allstate in the second quarter worth approximately $30,000. Finally, Cowa LLC bought a new position in shares of Allstate in the first quarter worth approximately $30,000. 77.48% of the stock is currently owned by institutional investors.

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.

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