Allstate Corporation (The) (NYSE:ALL) has been given a $110.00 target price by equities researchers at Wells Fargo & Company in a research note issued on Thursday. The firm currently has a “buy” rating on the insurance provider’s stock. Wells Fargo & Company’s price objective points to a potential upside of 9.58% from the company’s current price.
Other research analysts have also issued reports about the stock. Citigroup Inc. decreased their price target on shares of Allstate Corporation (The) from $107.00 to $106.00 and set a “buy” rating for the company in a report on Monday, October 2nd. BidaskClub lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Deutsche Bank AG lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and lifted their price target for the company from $90.00 to $96.00 in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Allstate Corporation (The) from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, UBS AG lifted their price target on shares of Allstate Corporation (The) from $93.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $93.38.
Shares of Allstate Corporation (NYSE ALL) traded up $0.44 during mid-day trading on Thursday, hitting $100.38. 2,548,800 shares of the stock were exchanged, compared to its average volume of 1,867,323. Allstate Corporation has a fifty-two week low of $69.04 and a fifty-two week high of $101.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market cap of $35,861.07, a P/E ratio of 14.72, a PEG ratio of 1.83 and a beta of 1.09.
Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Allstate Corporation (The) had a net margin of 7.32% and a return on equity of 13.11%. Allstate Corporation (The)’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. equities analysts forecast that Allstate Corporation will post 6.55 earnings per share for the current fiscal year.
Allstate Corporation (The) declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 63% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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In related news, CEO Thomas J. Wilson sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $99.29, for a total transaction of $12,907,700.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 428,242 shares of company stock worth $42,425,971. 1.58% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ALL. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Allstate Corporation (The) by 6.6% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 15,025 shares of the insurance provider’s stock valued at $1,224,000 after acquiring an additional 925 shares during the last quarter. Colony Group LLC lifted its stake in Allstate Corporation (The) by 22.6% in the first quarter. Colony Group LLC now owns 24,007 shares of the insurance provider’s stock valued at $1,956,000 after acquiring an additional 4,420 shares during the last quarter. Archford Capital Strategies LLC acquired a new stake in Allstate Corporation (The) in the first quarter valued at approximately $181,000. FNY Partners Fund LP acquired a new stake in Allstate Corporation (The) in the first quarter valued at approximately $122,000. Finally, Summit Global Investments acquired a new stake in Allstate Corporation (The) in the first quarter valued at approximately $244,000. 76.42% of the stock is currently owned by hedge funds and other institutional investors.
Allstate Corporation (The) 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.
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