Evercore ISI initiated coverage on shares of Allstate (NYSE:ALL) in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued an in-line rating and a $117.00 price target on the insurance provider’s stock.
Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group downgraded shares of Allstate from a neutral rating to an underperform rating and reduced their price objective for the stock from $100.00 to $94.00 in a report on Thursday, July 11th. Raymond James upped their price objective on shares of Allstate from $115.00 to $125.00 and gave the stock a strong-buy rating in a report on Thursday, August 1st. Barclays set a $125.00 price objective on shares of Allstate and gave the stock a buy rating in a report on Monday, August 12th. Buckingham Research upped their price objective on shares of Allstate from $100.00 to $104.00 and gave the stock a neutral rating in a report on Thursday, September 12th. Finally, UBS Group upped their price objective on shares of Allstate from $110.00 to $112.00 and gave the stock a neutral rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $109.00.
Shares of ALL traded up $0.67 during midday trading on Thursday, hitting $108.41. 1,671,790 shares of the stock traded hands, compared to its average volume of 1,797,604. Allstate has a 1-year low of $77.00 and a 1-year high of $109.55. The firm has a market capitalization of $35.58 billion, a PE ratio of 13.43, 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 quick ratio of 0.28 and a current ratio of 0.28. The business’s 50 day moving average price is $106.39 and its two-hundred day moving average price is $101.53.
In other Allstate news, Vice Chairman Steven E. Shebik sold 26,446 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $103.56, for a total value of $2,738,747.76. Following the completion of the sale, the insider now directly owns 153,154 shares of the company’s stock, valued at approximately $15,860,628.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jesse E. Merten sold 900 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $102.27, for a total transaction of $92,043.00. Following the completion of the sale, the executive vice president now directly owns 4,869 shares of the company’s stock, valued at $497,952.63. 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 over the last three months. 1.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ALL. Manchester Financial Inc. acquired a new stake in Allstate in the 2nd quarter valued at about $25,000. Redhawk Wealth Advisors Inc. acquired a new stake in Allstate during the 2nd quarter worth about $27,000. Stonebridge Capital Advisors LLC acquired a new stake in Allstate during the 2nd quarter worth about $34,000. Mcmillion Capital Management Inc. acquired a new stake in Allstate during the 2nd quarter worth about $35,000. Finally, Webster Bank N. A. raised its holdings in Allstate by 100.0% during the 2nd quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock worth $41,000 after buying an additional 200 shares during the period. 76.85% of the stock is owned by institutional investors.
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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