Allstate (ALL) PT Lowered to $111.00 at Bank of America

Allstate (NYSE:ALL) had its price target cut by equities researchers at Bank of America from $116.00 to $111.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the insurance provider’s stock. Bank of America’s price target suggests a potential upside of 23.25% from the company’s previous close.

A number of other brokerages have also recently commented on ALL. Keefe, Bruyette & Woods cut Allstate from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 2nd. Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Goldman Sachs Group began coverage on Allstate in a research report on Monday, December 4th. They set a “neutral” rating and a $104.00 target price on the stock. Wells Fargo & Co lowered Allstate from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. Finally, UBS Group lifted their target price on Allstate from $93.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $97.40.

Shares of Allstate (NYSE:ALL) traded down $6.81 on Thursday, hitting $90.06. The company’s stock had a trading volume of 5,280,000 shares, compared to its average volume of 2,380,000. The firm has a market capitalization of $32,320.00, a PE ratio of 12.51, a PEG ratio of 1.43 and a beta of 0.96. Allstate has a 12 month low of $77.73 and a 12 month high of $105.36. 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 (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.56. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 earnings per share. analysts predict that Allstate will post 6.18 EPS for the current year.

In related news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was 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 directly owns 24,341 shares of the company’s stock, valued at $2,446,027.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total value of $10,187,920.56. The disclosure for this sale can be found here. 1.58% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Arrow Financial Corp increased its holdings in Allstate by 100.0% in the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after buying an additional 553 shares during the last quarter. IHT Wealth Management LLC boosted its stake in Allstate by 46.6% in the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 405 shares during the period. Financial Engines Advisors L.L.C. acquired a new position in Allstate in the third quarter valued at approximately $116,000. Baker Ellis Asset Management LLC acquired a new position in Allstate in the third quarter valued at approximately $120,000. Finally, Rational Advisors LLC acquired a new position in Allstate in the fourth quarter valued at approximately $126,000. 76.89% of the stock is owned by hedge funds and other 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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