Citigroup Inc. Reiterates “Hold” Rating for The Allstate (ALL)
The Allstate (NYSE:ALL)‘s stock had its “hold” rating restated by Citigroup Inc. in a research note issued on Tuesday, American Banking News.com reports. They currently have a $57.00 target price on the stock. Citigroup Inc.’s price target would indicate a potential upside of 3.26% from the stock’s previous close.
In other The Allstate news, EVP James David Devries sold 50,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $56.83, for a total transaction of $2,841,500.00. Following the transaction, the executive vice president now directly owns 41,720 shares of the company’s stock, valued at approximately $2,370,948. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of The Allstate (NYSE:ALL) traded up 0.58% on Tuesday, hitting $55.52. The stock had a trading volume of 2,477,160 shares. The Allstate has a 52 week low of $45.60 and a 52 week high of $57.28. The stock’s 50-day moving average is $55.41 and its 200-day moving average is $53.61. The company has a market cap of $24.823 billion and a price-to-earnings ratio of 11.48. The Allstate also saw a significant growth in short interest in January. As of March 31st, there was short interest totalling 15,328,952 shares, a growth of 172.7% from the March 14th total of 5,620,663 shares. Based on an average daily trading volume, of 2,371,347 shares, the short-interest ratio is currently 6.5 days. Currently, 3.6% of the shares of the company are short sold.
The Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.33. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.55 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that The Allstate will post $5.10 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Allstate in a research note on Friday, April 4th. They now have a $59.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of The Allstate from $62.00 to $63.00 in a research note on Tuesday, March 25th. Finally, analysts at MKM Partners raised their price target on shares of The Allstate from $60.00 to $65.00 in a research note on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $58.00.
The Allstate Corporation (NYSE:ALL) is a holding company for Allstate Insurance Company.
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