Allstate (NYSE:ALL) Raised to “Strong-Buy” at Mizuho

Allstate (NYSE:ALL) was upgraded by investment analysts at Mizuho to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on ALL. Wolfe Research raised Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Evercore ISI set a $233.00 price objective on Allstate and gave the company an “in-line” rating in a research report on Wednesday, October 1st. BMO Capital Markets lifted their target price on Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.93.

Allstate Trading Down 2.1%

Shares of Allstate stock opened at $207.53 on Monday. Allstate has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $203.68 and a 200-day moving average price of $202.44. The firm has a market cap of $54.31 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 0.40 and a beta of 0.25.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the prior year, the firm earned $3.91 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Allstate will post 18.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 3,786 shares of Allstate stock in a transaction on Friday, November 28th. The shares were sold at an average price of $215.13, for a total value of $814,482.18. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,651,973.98. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 28,807 shares of company stock valued at $6,198,726 in the last three months. 1.70% of the stock is owned by company insiders.

Institutional Trading of Allstate

Institutional investors have recently made changes to their positions in the business. Keel Point LLC increased its position in Allstate by 2.7% during the 3rd quarter. Keel Point LLC now owns 2,900 shares of the insurance provider’s stock valued at $622,000 after buying an additional 75 shares in the last quarter. Farmers National Bank grew its stake in shares of Allstate by 1.2% during the third quarter. Farmers National Bank now owns 26,019 shares of the insurance provider’s stock worth $5,585,000 after acquiring an additional 310 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Allstate by 5.0% during the third quarter. FNY Investment Advisers LLC now owns 1,400 shares of the insurance provider’s stock valued at $300,000 after acquiring an additional 67 shares in the last quarter. Allworth Financial LP raised its position in shares of Allstate by 6.7% in the 3rd quarter. Allworth Financial LP now owns 65,042 shares of the insurance provider’s stock valued at $13,961,000 after purchasing an additional 4,083 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Allstate by 4.2% in the 3rd quarter. IFP Advisors Inc now owns 1,869 shares of the insurance provider’s stock worth $440,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.