Allstate (NYSE:ALL) had its price objective lowered by Citigroup from $115.00 to $105.00 in a research note issued to investors on Friday morning. The firm currently has a buy rating on the insurance provider’s stock.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Allstate from a hold rating to a buy rating and set a $112.00 target price on the stock in a research note on Tuesday, September 18th. Credit Suisse Group lowered their target price 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. Bank of America lowered their target price on shares of Allstate from $113.00 to $110.00 and set a buy rating on the stock in a research note on Friday. Wells Fargo & Co set a $100.00 price target on shares of Allstate and gave the stock a hold rating in a report on Wednesday, October 31st. Finally, ValuEngine raised shares of Allstate from a sell rating to a hold rating in a report on Saturday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Allstate presently has a consensus rating of Hold and an average price target of $103.77.
NYSE ALL opened at $90.39 on Friday. Allstate has a 1 year low of $88.29 and a 1 year high of $105.36. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market capitalization of $30.84 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.15 and a beta of 0.87.
Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.48% and a net margin of 9.38%. The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that Allstate will post 9.34 EPS for the current fiscal year.
In other news, EVP Harriet K. Harty sold 10,515 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the transaction, the executive vice president now owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ALL. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Allstate during the 3rd quarter valued at $110,000. Kiley Juergens Wealth Management LLC bought a new position in shares of Allstate during the 2nd quarter valued at $124,000. Cornerstone Wealth Management LLC bought a new position in shares of Allstate during the 3rd quarter valued at $146,000. Summit Trail Advisors LLC grew its holdings in shares of Allstate by 11,436.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock valued at $147,000 after purchasing an additional 146,160 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in shares of Allstate during the 3rd quarter valued at $158,000. 76.37% of the stock is currently owned by institutional investors.
Allstate Company Profile
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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