The Allstate Corporation (NYSE:ALL) Stock Rated “Hold” by Wall Street Brokerages

Shares of The Allstate Corporation (NYSE:ALL) have been assigned an average rating of “Hold” from the twenty-two brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $270.19.

ALL has been the subject of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Allstate from $250.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods dropped their target price on Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a report on Monday, October 12th. Morgan Stanley decreased their price target on Allstate from $265.00 to $240.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Mizuho lowered their price objective on Allstate from $300.00 to $295.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Finally, Roth Capital set a $300.00 price objective on Allstate in a research report on Thursday, August 6th.

Allstate Trading Down 1.6%

NYSE:ALL opened at $251.92 on Wednesday. Allstate has a 12-month low of $188.08 and a 12-month high of $277.22. The stock has a fifty day moving average price of $245.59 and a 200 day moving average price of $227.45.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period in the prior year, the business earned $5.94 EPS. Allstate’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Allstate will post 36.21 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently bought and sold shares of the stock. North Dakota State Investment Board lifted its stake in shares of Allstate by 3.7% in the 3rd quarter. North Dakota State Investment Board now owns 8,038 shares of the insurance provider’s stock valued at $1,783,000 after purchasing an additional 285 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in Allstate during the 3rd quarter worth approximately $137,000. Moody Aldrich Partners LLC purchased a new position in Allstate in the third quarter valued at approximately $3,592,000. Generali Asset Management SPA SGR raised its holdings in Allstate by 5.5% in the third quarter. Generali Asset Management SPA SGR now owns 17,948 shares of the insurance provider’s stock valued at $3,982,000 after buying an additional 940 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in Allstate by 1.8% in the third quarter. Asset Management One Co. Ltd. now owns 115,900 shares of the insurance provider’s stock valued at $25,714,000 after buying an additional 2,049 shares during the period. 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.