Allstate (ALL) Lowered to Underperform at Keefe, Bruyette & Woods

Allstate (NYSE:ALL) was downgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a report issued on Tuesday.

ALL has been the subject of several other research reports. Wells Fargo & Co reiterated a “buy” rating and set a $105.00 price target on shares of Allstate in a research note on Thursday, November 2nd. Credit Suisse Group increased their price target on Allstate from $91.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. UBS Group cut their price target on Allstate from $94.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Buckingham Research assumed coverage on Allstate in a research note on Monday, September 11th. They set an “underperform” rating and a $74.00 price target for the company. Finally, Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $96.50.

Allstate (NYSE:ALL) opened at $104.71 on Tuesday. The stock has a market capitalization of $37,572.67, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. Allstate has a 12 month low of $73.04 and a 12 month high of $105.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. equities research analysts expect that Allstate will post 6.23 earnings per share for the current fiscal year.

In other Allstate news, insider Suren Gupta sold 103,242 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $98.68, for a total value of $10,187,920.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan L. Lees sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the sale, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. Insiders have sold a total of 432,242 shares of company stock worth $42,827,931 in the last three months. 1.50% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC raised its holdings in shares of Allstate by 7.3% in the 3rd quarter. Atlantic Trust Group LLC now owns 51,537 shares of the insurance provider’s stock valued at $4,736,000 after acquiring an additional 3,495 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at about $519,000. Americafirst Capital Management LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at about $138,000. Dana Investment Advisors Inc. raised its holdings in shares of Allstate by 22.8% in the 3rd quarter. Dana Investment Advisors Inc. now owns 2,838 shares of the insurance provider’s stock valued at $261,000 after acquiring an additional 526 shares in the last quarter. Finally, Piedmont Investment Advisors LLC raised its holdings in shares of Allstate by 1.2% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 104,197 shares of the insurance provider’s stock valued at $9,577,000 after acquiring an additional 1,197 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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Allstate Company Profile

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Analyst Recommendations for Allstate (NYSE:ALL)

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