Barclays Issues Pessimistic Forecast for Allstate (NYSE:ALL) Stock Price

Allstate (NYSE:ALL) had its price objective cut by Barclays from $187.00 to $183.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the insurance provider’s stock. Barclays‘s target price suggests a potential downside of 1.57% from the stock’s previous close.

ALL has been the topic of several other reports. Raymond James lifted their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Evercore ISI boosted their target price on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group increased 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 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.94.

Allstate Price Performance

Allstate stock opened at $185.91 on Monday. Allstate has a twelve month low of $148.23 and a twelve month high of $209.88. The business has a fifty day moving average of $195.77 and a two-hundred day moving average of $185.14. The firm has a market cap of $49.23 billion, a P/E ratio of 12.04, a P/E/G 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.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that Allstate will post 16.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SPC Financial Inc. lifted its stake in Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Allstate by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after acquiring an additional 54 shares during the last quarter. Abacus Planning Group Inc. increased its position in Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares during the period. Finally, Carmichael Hill & Associates Inc. increased its holdings in shares of Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after buying an additional 60 shares during the last quarter. Hedge funds and other 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.