Allstate Corporation (The) (NYSE:ALL) was downgraded by equities research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a report issued on Tuesday. They currently have a $96.00 target price on the insurance provider’s stock, up from their previous target price of $90.00. Deutsche Bank AG’s target price points to a potential upside of 1.90% from the company’s current price.

Several other brokerages also recently issued reports on ALL. UBS AG reiterated a “neutral” rating and issued a $94.00 price target (up from $86.00) on shares of Allstate Corporation (The) in a report on Thursday, August 3rd. BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price target on shares of Allstate Corporation (The) in a report on Friday, June 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 price target (up from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Allstate Corporation (The) currently has a consensus rating of “Hold” and a consensus price target of $89.38.

Allstate Corporation (ALL) traded down 0.03% on Tuesday, reaching $94.21. The company had a trading volume of 1,609,649 shares. The stock’s 50-day moving average price is $89.51 and its 200 day moving average price is $83.65. The firm has a market capitalization of $34.04 billion, a price-to-earnings ratio of 13.92 and a beta of 1.10. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $94.49.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The firm had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Allstate Corporation will post $6.44 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 63% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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In other news, President Matthew E. Winter sold 33,957 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $84.38, for a total transaction of $2,865,291.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sanjay Gupta sold 16,798 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $86.00, for a total transaction of $1,444,628.00. Following the transaction, the insider now directly owns 65,798 shares in the company, valued at approximately $5,658,628. The disclosure for this sale can be found here. Insiders have sold 218,162 shares of company stock worth $19,450,439 in the last ninety days. Corporate insiders own 1.58% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Westpac Banking Corp raised its stake in Allstate Corporation (The) by 30.0% in the second quarter. Westpac Banking Corp now owns 386,466 shares of the insurance provider’s stock valued at $20,954,000 after buying an additional 89,172 shares during the period. Northcoast Asset Management raised its stake in Allstate Corporation (The) by 2,095.4% in the third quarter. Northcoast Asset Management now owns 841,443 shares of the insurance provider’s stock valued at $49,006,000 after buying an additional 803,115 shares during the period. Gerstein Fisher raised its stake in Allstate Corporation (The) by 1.6% in the third quarter. Gerstein Fisher now owns 3,700 shares of the insurance provider’s stock valued at $215,000 after buying an additional 60 shares during the period. Capstone Asset Management Company raised its stake in Allstate Corporation (The) by 45.7% in the fourth quarter. Capstone Asset Management Company now owns 51,063 shares of the insurance provider’s stock valued at $3,171,000 after buying an additional 16,010 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Allstate Corporation (The) by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 6,355,789 shares of the insurance provider’s stock valued at $444,586,000 after buying an additional 811,752 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

About Allstate Corporation (The)

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.

Analyst Recommendations for Allstate Corporation (The) (NYSE:ALL)

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