Allstate (NYSE:ALL) Raised to “Buy” at Wall Street Zen

Allstate (NYSE:ALL) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler restated an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. HSBC lowered Allstate from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $244.00 to $264.00 in a research note on Monday, July 6th. Raymond James Financial upped their target price on shares of Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 6th. Citigroup boosted their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Allstate Trading Down 0.8%

Allstate stock opened at $251.64 on Monday. The business has a 50 day moving average price of $228.81 and a two-hundred day moving average price of $215.02. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $64.78 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. Allstate has a 12 month low of $188.08 and a 12 month high of $257.67.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $3.53 EPS. As a group, equities analysts forecast that Allstate will post 30.51 EPS for the current year.

Insider Transactions at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,353 shares of company stock valued at $4,851,560 in the last ninety days. 1.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allstate

A number of large investors have recently modified their holdings of the business. MV Capital Management Inc. acquired a new stake in shares of Allstate in the fourth quarter valued at about $25,000. Dorato Capital Management acquired a new position in Allstate during the fourth quarter valued at approximately $27,000. Navalign LLC bought a new position in Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. grew its stake in Allstate by 7,000.0% in the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new position in shares of Allstate during the 2nd quarter worth approximately $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

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.