Allstate (ALL) Lowered to Sell at ValuEngine

ValuEngine cut shares of Allstate (NYSE:ALL) from a hold rating to a sell rating in a research note published on Thursday morning.

Other equities analysts have also recently issued research reports about the stock. Citigroup set a $115.00 price objective on shares of Allstate and gave the stock a buy rating in a research note on Friday, October 12th. Zacks Investment Research cut shares of Allstate from a strong-buy rating to a hold rating in a research note on Thursday, September 13th. Credit Suisse Group lowered their price objective on shares of Allstate from $114.00 to $112.00 and set a buy rating on the stock in a research note on Tuesday, August 28th. Buckingham Research upgraded shares of Allstate from an underperform rating to a neutral rating and set a $88.00 price objective on the stock in a research note on Wednesday, July 18th. Finally, B. Riley increased their price objective on shares of Allstate from $84.00 to $88.00 and gave the stock a neutral rating in a research note on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Allstate has an average rating of Hold and an average price target of $103.77.

Shares of NYSE:ALL traded down $0.42 during trading on Thursday, hitting $89.55. The company’s stock had a trading volume of 2,738,242 shares, compared to its average volume of 2,093,081. Allstate has a 12 month low of $88.29 and a 12 month high of $105.36. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $33.06 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.21% and a net margin of 9.06%. The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the company earned $1.60 EPS. Allstate’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Allstate will post 9.46 earnings per share for the current fiscal year.

In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now owns 14,606 shares in the company, valued at approximately $1,444,095.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Susan L. Lees sold 22,189 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,432 shares of company stock worth $5,386,208. 1.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its stake in Allstate by 0.4% during the 2nd quarter. Northern Trust Corp now owns 6,831,977 shares of the insurance provider’s stock worth $623,554,000 after acquiring an additional 24,814 shares during the period. Morgan Stanley raised its stake in Allstate by 11.3% during the 2nd quarter. Morgan Stanley now owns 972,750 shares of the insurance provider’s stock worth $88,783,000 after acquiring an additional 99,122 shares during the period. Millennium Management LLC raised its stake in Allstate by 101.9% during the 2nd quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock worth $145,082,000 after acquiring an additional 802,167 shares during the period. Reliance Trust Co. of Delaware raised its stake in Allstate by 8.6% during the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock worth $664,000 after acquiring an additional 575 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in Allstate by 18.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 572,645 shares of the insurance provider’s stock worth $52,283,000 after acquiring an additional 91,117 shares during the period. Institutional investors own 76.05% of the company’s stock.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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