Allstate (NYSE:ALL) Stock Rating Upgraded by Wall Street Zen

Allstate (NYSE:ALL) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler restated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup lifted their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Allstate Price Performance

Shares of ALL opened at $249.84 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. Allstate has a 1 year low of $188.08 and a 1 year high of $250.38. The stock has a market cap of $64.31 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The stock’s 50-day moving average price is $220.59 and its two-hundred day moving average price is $211.53.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.53 EPS. On average, equities analysts predict that Allstate will post 29.75 earnings per share for the current year.

Insider Activity

In other news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,353 shares of company stock worth $4,851,560 over the last quarter. 1.55% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Allstate during the fourth quarter worth about $531,294,000. GQG Partners LLC raised its position in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. raised its position in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after acquiring an additional 822,583 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Allstate in the 3rd quarter valued at approximately $148,641,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.