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.
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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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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