Allstate (NYSE:ALL) Upgraded at Wall Street Zen

Allstate (NYSE:ALL) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Several other analysts have also recently commented on ALL. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Evercore set a $240.00 price objective on Allstate in a report on Friday, July 10th. Roth Capital reiterated a “buy” rating and issued a $275.00 price objective on shares of Allstate in a research report on Friday. Finally, Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $254.80.

Allstate Price Performance

Shares of ALL stock opened at $249.84 on Monday. Allstate has a 52 week low of $188.08 and a 52 week high of $257.67. The stock has a market capitalization of $64.31 billion, a PE ratio of 5.51, a PEG ratio of 0.43 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s fifty day moving average is $227.29 and its 200-day moving average is $214.40.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the company earned $3.53 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Allstate will post 30.4 EPS for the current fiscal year.

Insider Activity at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last ninety days. Company insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock valued at $2,571,600,000 after purchasing an additional 438,034 shares during the last quarter. Bank of America Corp DE grew its position in shares of Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after buying an additional 596,321 shares during the period. GQG Partners LLC increased its stake in shares of 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 acquiring an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of 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 acquiring an additional 1,131,172 shares during the last quarter. Finally, Boston Partners raised its position in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after acquiring an additional 395,195 shares during the period. 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.