Allstate (NYSE:ALL) PT Lowered to $105.00 at Wells Fargo & Company

Allstate (NYSE:ALL – Get Rating) had its price target cut by analysts at Wells Fargo & Company from $107.00 to $105.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 16.43% from the company’s current price.

ALL has been the topic of a number of other reports. Keefe, Bruyette & Woods upgraded shares of Allstate from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $136.00 to $158.00 in a report on Tuesday, October 11th. Morgan Stanley dropped their price target on shares of Allstate from $140.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 22nd. JPMorgan Chase & Co. reduced their price target on Allstate from $152.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. Barclays lifted their price target on Allstate from $112.00 to $128.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 8th. Finally, Citigroup reduced their price objective on shares of Allstate from $160.00 to $150.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.85.

Allstate Price Performance

Allstate stock opened at $125.65 on Thursday. The stock’s 50 day moving average is $133.83 and its 200-day moving average is $128.45. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. Allstate has a 12 month low of $111.85 and a 12 month high of $144.46. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of -88.49, a PEG ratio of 3.19 and a beta of 0.61.

Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported ($1.56) EPS for the quarter, beating analysts’ consensus estimates of ($1.57) by $0.01. The firm had revenue of $13.38 billion during 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 business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 EPS. Equities research analysts expect that Allstate will post 2.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Accurate Wealth Management LLC acquired a new position in Allstate during the fourth quarter worth $27,000. Field & Main Bank acquired a new position in Allstate during the second quarter worth $25,000. Curi Wealth Management LLC grew its holdings in Allstate by 7,266.7% during the second quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 218 shares during the period. Heritage Wealth Management LLC acquired a new position in Allstate during the second quarter worth $30,000. Finally, Hexagon Capital Partners LLC grew its holdings in Allstate by 302.9% in the second quarter. Hexagon Capital Partners LLC now owns 278 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.

Allstate Company Profile

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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.