Allstate (NYSE:ALL) Stock Rating Lowered by Keefe, Bruyette & Woods

Allstate (NYSE:ALL) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, MarketBeat reports. They presently have a $242.00 price objective on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.51% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barclays raised their target price on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Mizuho lowered their price target on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Finally, Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Allstate Trading Down 0.0%

NYSE:ALL opened at $220.98 on Monday. The company has a market cap of $56.88 billion, a P/E ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The stock’s fifty day moving average price is $213.31 and its two-hundred day moving average price is $208.65. Allstate has a 1 year low of $188.08 and a 1 year high of $227.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the business earned $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Allstate will post 29.43 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark Q. Prindiville sold 1,550 shares of the company’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 sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of the 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 transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares during the period. Bank of America Corp DE grew its position in Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the last quarter. GQG Partners LLC grew its position in Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after acquiring an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. increased its stake in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after purchasing an additional 1,131,172 shares during the period. Finally, Boston Partners lifted its position in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

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.