Allstate (NYSE:ALL) Stock Rating Lowered by TD Cowen

Allstate (NYSE:ALL) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a report issued on Monday,Finviz reports. They presently have a $231.00 price objective on the insurance provider’s stock. TD Cowen’s price objective would indicate a potential upside of 8.79% from the company’s current price.

A number of other research firms have also commented on ALL. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $250.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Mizuho started coverage on shares of Allstate in a research report on Monday, December 15th. They set an “outperform” rating and a $254.00 target price for the company. Finally, BMO Capital Markets raised their price target on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.69.

Allstate Stock Up 0.6%

ALL opened at $212.34 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $55.56 billion, a PE ratio of 6.87, a P/E/G ratio of 0.47 and a beta of 0.24. The stock’s fifty day moving average is $207.34 and its 200-day moving average is $203.41. Allstate has a one year low of $176.00 and a one year high of $215.89.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The firm had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the company earned $3.91 earnings per share. Allstate’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Allstate will post 18.74 EPS for the current fiscal year.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 48,400 shares of company stock worth $10,313,256. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Arlington Trust Co LLC raised its position in Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its position in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. Clearstead Trust LLC lifted its position in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new stake in shares of Allstate during the third quarter valued at approximately $31,000. 76.47% of the stock is owned by institutional investors and hedge funds.

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.