Allstate (ALL) Research Coverage Started at Goldman Sachs Group

Investment analysts at Goldman Sachs Group started coverage on shares of Allstate (NYSE:ALL) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $104.00 price target on the insurance provider’s stock. Goldman Sachs Group’s price objective would suggest a potential upside of 0.37% from the stock’s current price.

Several other brokerages have also recently commented on ALL. Citigroup decreased their price objective on shares of Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. Wells Fargo & Company set a $110.00 target price on shares of Allstate and gave the company a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research cut shares of Allstate from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Deutsche Bank cut shares of Allstate from a “buy” rating to a “hold” rating and boosted their target price for the company from $90.00 to $96.00 in a research note on Tuesday, August 8th. Finally, B. Riley reiterated a “neutral” rating on shares of Allstate in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $95.08.

Shares of Allstate (NYSE ALL) traded up $0.52 during midday trading on Monday, reaching $103.62. 2,381,010 shares of the company’s stock traded hands, compared to its average volume of 1,872,400. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. Allstate has a twelve month low of $70.22 and a twelve month high of $104.10. The firm has a market cap of $36,994.96, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. sell-side analysts forecast that Allstate will post 6.23 earnings per share for the current fiscal year.

In related news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the sale, the executive vice president now owns 24,341 shares of the company’s stock, valued at approximately $2,446,027.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 432,242 shares of company stock valued at $42,827,931. Company insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ALL. Janus Henderson Group PLC increased its holdings in Allstate by 4,753.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock worth $203,116,000 after acquiring an additional 2,249,334 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Allstate by 182.7% during the third quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock worth $309,593,000 after buying an additional 2,176,800 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Allstate by 249.1% during the second quarter. Principal Financial Group Inc. now owns 1,827,612 shares of the insurance provider’s stock worth $161,634,000 after buying an additional 1,304,131 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Allstate by 480.2% during the second quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock worth $132,328,000 after buying an additional 1,238,341 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Allstate by 18.8% during the second quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock worth $636,969,000 after buying an additional 1,141,782 shares in the last quarter. 76.33% of the stock is owned by institutional investors.

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About Allstate

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 (NYSE:ALL)

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