Shares of Allstate Corporation (The) (NYSE:ALL) have been given an average rating of “Hold” by the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $92.31.

ALL has been the subject of a number of research reports. Barclays PLC upped their price target on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Citigroup Inc. upped their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Deutsche Bank AG cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their price target for the stock from $90.00 to $96.00 in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of Allstate Corporation (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, BidaskClub cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.

In other news, EVP Susan L. Lees sold 12,288 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $94.09, for a total transaction of $1,156,177.92. Following the transaction, the executive vice president now owns 73,511 shares of the company’s stock, valued at $6,916,649.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven E. Shebik sold 35,197 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the transaction, the chief financial officer now directly owns 127,560 shares in the company, valued at approximately $12,026,356.80. The disclosure for this sale can be found here. Insiders have sold 95,544 shares of company stock worth $9,017,568 in the last ninety days. Corporate insiders own 1.58% of the company’s stock.

Hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp bought a new position in shares of Allstate Corporation (The) during the second quarter worth about $1,671,000. State of Tennessee Treasury Department lifted its position in shares of Allstate Corporation (The) by 16.7% during the second quarter. State of Tennessee Treasury Department now owns 593,694 shares of the insurance provider’s stock worth $52,506,000 after purchasing an additional 85,026 shares during the last quarter. State Street Corp lifted its position in shares of Allstate Corporation (The) by 3.0% during the first quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after purchasing an additional 530,591 shares during the last quarter. Park National Corp OH lifted its position in shares of Allstate Corporation (The) by 1.7% during the second quarter. Park National Corp OH now owns 15,576 shares of the insurance provider’s stock worth $1,378,000 after purchasing an additional 256 shares during the last quarter. Finally, Aperio Group LLC lifted its position in shares of Allstate Corporation (The) by 16.4% during the third quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock worth $37,685,000 after purchasing an additional 57,713 shares during the last quarter. 76.75% of the stock is currently owned by institutional investors and hedge funds.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis.

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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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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