Allstate Corp’s (ALL) Buy Rating Reiterated at Wells Fargo & Company
Allstate Corp (NYSE:ALL)‘s stock had its “buy” rating restated by investment analysts at Wells Fargo & Company in a research note issued on Thursday.
Several other research analysts have also weighed in on ALL. Credit Suisse Group set a $86.00 target price on Allstate Corp and gave the stock a “hold” rating in a research report on Saturday, March 25th. FBR & Co increased their target price on Allstate Corp from $70.00 to $82.00 and gave the stock a “mkt perform” rating in a research report on Monday, April 3rd. Citigroup Inc. increased their target price on Allstate Corp from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, April 7th. Macquarie lowered Allstate Corp from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $78.00 to $81.00 in a research report on Tuesday, April 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Allstate Corp from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $87.67.
Shares of Allstate Corp (NYSE ALL) opened at 88.94 on Thursday. Allstate Corp has a 52 week low of $66.55 and a 52 week high of $90.74. The stock has a 50 day moving average price of $88.20 and a 200-day moving average price of $82.36. The firm has a market capitalization of $32.42 billion, a PE ratio of 15.08 and a beta of 1.10.
Allstate Corp (NYSE:ALL) last issued its earnings results on Wednesday, May 3rd. The insurance provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.60. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.36 billion. Allstate Corp had a return on equity of 13.97% and a net margin of 7.32%. Equities analysts anticipate that Allstate Corp will post $6.06 earnings per share for the current year.
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In other news, insider Harriet K. Harty sold 7,228 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $88.35, for a total transaction of $638,593.80. Following the completion of the sale, the insider now directly owns 18,260 shares in the company, valued at $1,613,271. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Samuel H. Pilch sold 8,582 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $83.88, for a total value of $719,858.16. Following the sale, the vice president now owns 35,875 shares of the company’s stock, valued at $3,009,195. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,259 shares of company stock valued at $15,695,746. 1.58% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in ALL. Henderson Group PLC increased its stake in shares of Allstate Corp by 1.1% in the first quarter. Henderson Group PLC now owns 47,317 shares of the insurance provider’s stock valued at $3,855,000 after buying an additional 500 shares in the last quarter. FCA Corp TX increased its stake in shares of Allstate Corp by 0.7% in the first quarter. FCA Corp TX now owns 25,241 shares of the insurance provider’s stock valued at $2,057,000 after buying an additional 180 shares in the last quarter. Paragon Capital Management Ltd acquired a new stake in shares of Allstate Corp during the first quarter valued at $222,000. IFP Advisors Inc increased its stake in shares of Allstate Corp by 5.8% in the first quarter. IFP Advisors Inc now owns 12,623 shares of the insurance provider’s stock valued at $1,029,000 after buying an additional 695 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Allstate Corp by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,471 shares of the insurance provider’s stock valued at $998,000 after buying an additional 630 shares in the last quarter. Institutional investors own 76.24% of the company’s stock.
About Allstate Corp
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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