Allstate (NYSE:ALL) Upgraded by Evercore ISI to “Outperform” Rating

Allstate (NYSE:ALL) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group upped their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group upped their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Raymond James lifted their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.94.

Allstate Price Performance

ALL opened at $185.91 on Wednesday. Allstate has a twelve month low of $148.23 and a twelve month high of $209.88. The firm has a market cap of $49.23 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.70 and a beta of 0.52. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $195.77 and a 200 day simple moving average of $185.14.

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

Institutional Trading of Allstate

A number of large investors have recently modified their holdings of the company. Pathway Financial Advisers LLC grew its position in Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after buying an additional 472,040 shares during the period. AQR Capital Management LLC grew its holdings in Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Allstate in the 3rd quarter valued at approximately $77,819,000. Finally, Los Angeles Capital Management LLC raised its stake in Allstate by 688.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after acquiring an additional 401,901 shares in the last quarter. Institutional investors and hedge funds 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.