Allstate (ALL) PT Lowered to $105.00 at Citigroup

Allstate (NYSE:ALL) had its price target reduced by stock analysts at Citigroup from $115.00 to $105.00 in a report issued on Friday. The firm currently has a “buy” rating on the insurance provider’s stock. Citigroup’s target price would indicate a potential upside of 17.25% from the stock’s previous close.

ALL has been the subject of a number of other research reports. Zacks Investment Research cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Wells Fargo & Co set a $100.00 price objective on shares of Allstate and gave the stock a “hold” rating in a research report on Thursday, October 18th. B. Riley increased their price objective on shares of Allstate from $88.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a research report on Wednesday, July 18th. Finally, ValuEngine cut shares of Allstate from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Allstate currently has a consensus rating of “Hold” and a consensus price target of $103.77.

NYSE:ALL opened at $89.55 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $33.14 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.21 and a beta of 0.86. Allstate has a fifty-two week low of $88.29 and a fifty-two week high of $105.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Allstate had a return on equity of 15.57% and a net margin of 9.38%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 EPS. As a group, equities analysts forecast that Allstate will post 9.46 EPS for the current year.

In other Allstate news, EVP Harriet K. Harty sold 10,515 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the completion of the transaction, the executive vice president now owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn T. Shapiro sold 21,728 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $98.70, for a total transaction of $2,144,553.60. The disclosure for this sale can be found here. Insiders sold a total of 54,432 shares of company stock valued at $5,386,208 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ALL. Summit Trail Advisors LLC boosted its position in Allstate by 11,436.6% in the 1st quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock valued at $147,000 after buying an additional 146,160 shares during the period. DnB Asset Management AS boosted its position in Allstate by 5.5% in the 2nd quarter. DnB Asset Management AS now owns 44,046 shares of the insurance provider’s stock valued at $4,020,000 after buying an additional 2,300 shares during the period. IFM Investors Pty Ltd boosted its position in Allstate by 41.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 15,780 shares of the insurance provider’s stock valued at $1,440,000 after buying an additional 4,607 shares during the period. Fulton Bank N.A. boosted its position in Allstate by 12.2% in the 2nd quarter. Fulton Bank N.A. now owns 16,481 shares of the insurance provider’s stock valued at $1,504,000 after buying an additional 1,787 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Allstate by 20.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 210,920 shares of the insurance provider’s stock valued at $19,248,000 after buying an additional 35,430 shares during the period. 76.05% of the stock is owned by institutional investors.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Analyst Recommendations for Allstate (NYSE:ALL)

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