Allstate (NYSE:ALL) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, January 9th, MarketBeat.com reports.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods downgraded shares of Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Goldman Sachs Group began coverage on shares of Allstate in a report on Monday, December 4th. They set a “neutral” rating and a $104.00 price target on the stock. B. Riley reissued a “neutral” rating on shares of Allstate in a report on Monday, November 6th. Finally, UBS Group increased their price target on shares of Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $96.43.
Allstate (NYSE:ALL) traded down $0.78 during mid-day trading on Tuesday, hitting $97.94. 2,286,153 shares of the stock traded hands, compared to its average volume of 2,100,000. The stock has a market cap of $35,140.00, a P/E ratio of 13.60, a P/E/G ratio of 1.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. Allstate has a fifty-two week low of $76.97 and a fifty-two week high of $105.36.
Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the company earned $1.26 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. equities analysts forecast that Allstate will post 6.18 earnings per share for the current year.
In other news, EVP Susan L. Lees sold 4,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the sale, the executive vice president now directly owns 24,341 shares in the company, valued at $2,446,027.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Suren Gupta sold 103,242 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Insiders have sold 432,242 shares of company stock valued at $42,827,931 over the last 90 days. 1.58% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ALL. Janus Henderson Group PLC raised its position in shares of Allstate by 4,753.8% in the second quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock valued at $203,116,000 after buying an additional 2,249,334 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Allstate by 182.7% in the third quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock valued at $309,593,000 after buying an additional 2,176,800 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Allstate by 480.2% in the second quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock valued at $132,328,000 after buying an additional 1,238,341 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Allstate by 18.8% in the second quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock valued at $636,969,000 after purchasing an additional 1,141,782 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Allstate by 22.4% in the third quarter. Ameriprise Financial Inc. now owns 4,210,943 shares of the insurance provider’s stock valued at $387,030,000 after purchasing an additional 769,761 shares during the period. Institutional investors and hedge funds own 76.64% of the company’s stock.
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Allstate Company Profile
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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