Allstate (NYSE:ALL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allstate (NYSE:ALL) from a buy rating to a strong-buy rating in a research report released on Saturday,Wall Street Zen reports.

Several other analysts also recently commented on ALL. Citigroup reduced their target price on Allstate from $240.00 to $215.00 and set a “sell” rating for the company in a research note on Friday, October 2nd. JPMorgan Chase & Co. boosted their target price on Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Barclays dropped their price target on Allstate from $226.00 to $221.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 7th. Jefferies Financial Group dropped their price target on Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Finally, HSBC upgraded Allstate from a “hold” rating to a “buy” rating and set a $266.00 price target on the stock in a report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Allstate currently has a consensus rating of “Hold” and a consensus target price of $270.19.

Allstate Stock Down 0.3%

Allstate stock opened at $247.02 on Friday. The company has a market capitalization of $62.46 billion, a PE ratio of 5.49, a PEG ratio of 0.55 and a beta of 0.13. Allstate has a 12-month low of $188.08 and a 12-month high of $277.22. The firm’s fifty day moving average is $246.32 and its 200 day moving average is $235.52. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the firm posted $5.94 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Allstate will post 36.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by company insiders.

Institutional Trading of Allstate

Large investors have recently bought and sold shares of the company. New Wave Wealth Advisors LLC grew its stake in Allstate by 1.9% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 3,599 shares of the insurance provider’s stock worth $851,000 after acquiring an additional 68 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Allstate by 192.3% in the 3rd quarter. IFP Advisors Inc now owns 14,198 shares of the insurance provider’s stock valued at $3,150,000 after acquiring an additional 9,341 shares during the period. Elevated Financial Group LLC raised its position in shares of Allstate by 9.1% in the 3rd quarter. Elevated Financial Group LLC now owns 3,516 shares of the insurance provider’s stock worth $780,000 after acquiring an additional 293 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Allstate in the 3rd quarter worth $609,000. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Allstate by 37.5% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,465 shares of the insurance provider’s stock worth $1,360,000 after purchasing an additional 1,762 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Company Profile

Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.