Allstate (NYSE:ALL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $115.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.34% from the company’s current price.

According to Zacks, “Allstate’s shares have outperformed the industry, year to date. The company is poised to grow on the back of its well-performing property and liability segment. A number of initiatives undertaken to improve profitability in the auto segment will drive long-term growth. A strong balance sheet and intelligent capital management are the other positives. The acquisition of SquareTrade will diversify the company's operations. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 7.2% upward over the last 60 days. Allstate is nevertheless faced with exposure to catastrophe losses, owing to its large property insurance business. The underperforming brand Encompass is another drag.”

A number of other equities research analysts have also recently issued reports on ALL. BidaskClub cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Wells Fargo & Company restated a “buy” rating on shares of Allstate in a report on Thursday, August 17th. Buckingham Research initiated coverage on shares of Allstate in a report on Monday, September 11th. They set an “underperform” rating and a $74.00 price target for the company. UBS decreased their price target on shares of Allstate from $94.00 to $93.00 and set a “neutral” rating for the company in a report on Tuesday, September 19th. Finally, Citigroup decreased their price target on shares of Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $96.50.

Shares of Allstate (ALL) traded down $0.13 during trading hours on Tuesday, reaching $102.37. 1,085,900 shares of the company were exchanged, compared to its average volume of 1,865,749. The company has a market capitalization of $37,250.00, a PE ratio of 15.10, a PEG ratio of 1.97 and a beta of 1.12. Allstate has a 12-month low of $72.30 and a 12-month high of $104.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26.

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

In other news, EVP Susan L. Lees sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $100.49, for a total transaction 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 $2,446,027.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Thomas J. Wilson sold 195,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $99.13, for a total transaction of $19,330,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 432,242 shares of company stock valued at $42,827,931. Company insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Acadian Asset Management LLC grew its stake in shares of Allstate by 12.9% during the second quarter. Acadian Asset Management LLC now owns 3,422 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 390 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of Allstate by 22.2% during the second quarter. Global X Management Co. LLC now owns 9,577 shares of the insurance provider’s stock valued at $847,000 after purchasing an additional 1,741 shares during the last quarter. Stoneridge Investment Partners LLC grew its stake in shares of Allstate by 2.3% during the second quarter. Stoneridge Investment Partners LLC now owns 77,114 shares of the insurance provider’s stock valued at $6,820,000 after purchasing an additional 1,709 shares during the last quarter. Strycker View Capital LLC grew its stake in shares of Allstate by 31.6% during the second quarter. Strycker View Capital LLC now owns 207,998 shares of the insurance provider’s stock valued at $18,395,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Allstate by 177.2% during the second quarter. Canada Pension Plan Investment Board now owns 477,133 shares of the insurance provider’s stock valued at $42,198,000 after purchasing an additional 305,000 shares during the last quarter. 76.65% of the stock is currently owned by institutional investors and hedge funds.

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Allstate Company Profile

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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