Morgan Stanley Forecasts Strong Price Appreciation for Allstate (NYSE:ALL) Stock

Allstate (NYSE:ALL) had its price target upped by investment analysts at Morgan Stanley from $235.00 to $245.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 22.68% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. UBS Group lifted their price target on shares of Allstate from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Finally, William Blair initiated coverage on shares of Allstate in a research report on Friday, June 6th. They issued a “sector outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued 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, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.40.

Allstate Trading Down 1.7%

Shares of ALL stock opened at $199.71 on Friday. The firm has a 50 day moving average price of $198.37 and a two-hundred day moving average price of $197.27. The company has a quick ratio of 0.40, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $52.63 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35. Allstate has a 12-month low of $168.36 and a 12-month high of $213.18.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. As a group, analysts predict that Allstate will post 18.74 earnings per share for the current year.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arlington Trust Co LLC grew its stake in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Hughes Financial Services LLC bought a new stake in shares of Allstate during the first quarter worth $28,000. Kapitalo Investimentos Ltda bought a new stake in shares of Allstate during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after buying an additional 126 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Allstate during the second quarter worth $34,000. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.