Allstate (NYSE:ALL) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Allstate (NYSE:ALL) from a buy rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

ALL has been the topic of a number of other research reports. Roth Capital set a $300.00 target price on Allstate in a research note on Thursday, August 6th. BMO Capital Markets lifted their target price on Allstate from $250.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Argus set a $238.00 target price on shares of Allstate in a research note on Friday, August 28th. Keefe, Bruyette & Woods cut their price target on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a report on Monday, October 12th. Finally, Jefferies Financial Group cut their price target on shares of Allstate from $310.00 to $292.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.19.

Allstate Trading Up 3.2%

ALL opened at $247.27 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s 50 day moving average price is $246.77 and its 200-day moving average price is $235.04. Allstate has a one year low of $188.08 and a one year high of $277.22. The stock has a market cap of $62.52 billion, a price-to-earnings ratio of 4.94, a P/E/G ratio of 0.55 and a beta of 0.13.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period last year, the company earned $5.94 EPS. Allstate’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts forecast that Allstate will post 36.25 EPS for the current year.

Insider Activity at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Dugenske sold 32,996 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allstate

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. bought a new stake in shares of Allstate in the fourth quarter valued at about $25,000. Gables Capital Management Inc. purchased a new stake in Allstate in the second quarter worth about $26,000. Kelleher Financial Advisors bought a new position in Allstate during the 2nd quarter worth about $28,000. Evolution Wealth Management Inc. grew its holdings in Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in Allstate during the 2nd quarter valued at about $29,000. Institutional investors own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.