Research analysts at Evercore ISI began coverage on shares of Allstate (NYSE:ALL) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set an “in-line” rating and a $117.00 price target on the insurance provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 8.71% from the company’s previous close.
A number of other research firms have also recently issued reports on ALL. Credit Suisse Group cut shares of Allstate from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $100.00 to $94.00 in a research note on Thursday, July 11th. ValuEngine cut shares of Allstate from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their target price on shares of Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. UBS Group raised their target price on shares of Allstate from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays set a $125.00 target price on shares of Allstate and gave the stock a “buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Allstate has an average rating of “Hold” and a consensus price target of $109.00.
ALL stock traded up $0.14 during trading hours on Thursday, reaching $107.63. The stock had a trading volume of 15,937 shares, compared to its average volume of 1,686,226. The stock has a market capitalization of $35.63 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a 50-day simple moving average of $106.29 and a 200 day simple moving average of $101.46. Allstate has a fifty-two week low of $77.00 and a fifty-two week high of $109.55.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.70. The firm had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Allstate had a net margin of 6.52% and a return on equity of 12.66%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.00 earnings per share. On average, sell-side analysts forecast that Allstate will post 9.7 EPS for the current fiscal year.
In other Allstate news, EVP Jesse E. Merten sold 900 shares of Allstate stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $102.27, for a total value of $92,043.00. Following the completion of the sale, the executive vice president now owns 4,869 shares in the company, valued at approximately $497,952.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan L. Lees sold 27,650 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the completion of the transaction, the executive vice president now directly owns 53,165 shares in the company, valued at $5,757,769.50. The disclosure for this sale can be found here. Insiders sold a total of 99,783 shares of company stock valued at $10,472,581 in the last quarter. Corporate insiders own 1.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Enlightenment Research LLC acquired a new position in shares of Allstate during the 2nd quarter valued at $213,000. Clearstead Advisors LLC raised its holdings in Allstate by 34.3% during the second quarter. Clearstead Advisors LLC now owns 6,970 shares of the insurance provider’s stock worth $709,000 after buying an additional 1,782 shares during the last quarter. Orrstown Financial Services Inc. raised its holdings in Allstate by 1.1% during the second quarter. Orrstown Financial Services Inc. now owns 10,417 shares of the insurance provider’s stock worth $1,059,000 after buying an additional 116 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Allstate by 1.5% during the second quarter. CIBC Asset Management Inc now owns 37,157 shares of the insurance provider’s stock worth $3,778,000 after buying an additional 549 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its holdings in Allstate by 6.7% during the second quarter. NN Investment Partners Holdings N.V. now owns 56,578 shares of the insurance provider’s stock worth $5,754,000 after buying an additional 3,574 shares during the last quarter. 76.85% of the stock is currently owned by hedge funds and other institutional investors.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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