Barclays Cuts Allstate (NYSE:ALL) Price Target to $183.00

Allstate (NYSE:ALL) had its price objective dropped by investment analysts at Barclays from $187.00 to $183.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Barclays‘s price objective would indicate a potential downside of 2.90% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group raised their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Raymond James increased their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI upped their price target on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average target price of $216.94.

Allstate Stock Performance

Shares of ALL traded down $2.99 during trading hours on Monday, hitting $188.46. The company had a trading volume of 1,135,820 shares, compared to its average volume of 1,389,297. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.70 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $195.86 and a 200-day moving average of $184.80. Allstate has a 12 month low of $148.23 and a 12 month high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm 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 business posted $0.81 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts anticipate that Allstate will post 16.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boltwood Capital Management raised its position in shares of Allstate by 10.5% during the fourth quarter. Boltwood Capital Management now owns 7,710 shares of the insurance provider’s stock worth $1,486,000 after purchasing an additional 730 shares during the period. Nordea Investment Management AB raised its stake in shares of Allstate by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 54,086 shares of the insurance provider’s stock worth $10,397,000 after purchasing an additional 631 shares during the last quarter. GAMMA Investing LLC raised its position in Allstate by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 5,070 shares of the insurance provider’s stock valued at $977,000 after buying an additional 1,084 shares during the last quarter. Versant Capital Management Inc lifted its stake in Allstate by 146.2% during the 4th quarter. Versant Capital Management Inc now owns 384 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 228 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in 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. 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.