Allstate (NYSE:ALL) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Allstate has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' outlook on the stock.
• Despite the downgrade, several analysts, including UBS and Morgan Stanley, have raised their price targets for Allstate, indicating a range of opinions within the investment community.
• Allstate's recent quarterly earnings report revealed a miss on earnings per share, underscoring challenges despite a year-over-year revenue increase.

Allstate (NYSE:ALL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

A number of other analysts have also recently weighed in on the company. UBS Group increased their price target on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. William Blair initiated coverage on Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. Morgan Stanley raised their target price on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Finally, Barclays increased their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and an average price target of $227.07.

Allstate Stock Up 1.0%

ALL stock opened at $195.85 on Monday. The firm has a market cap of $51.86 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.01 and a beta of 0.33. Allstate has a 1-year low of $166.46 and a 1-year high of $213.18. The firm has a fifty day moving average price of $199.34 and a two-hundred day moving average price of $196.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the company earned $5.13 EPS. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. Research analysts predict that Allstate will post 18.74 EPS for the current year.

Hedge Funds Weigh In On Allstate

Several large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its position in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock worth $2,352,000 after buying an additional 2,643 shares during the period. Richard Bernstein Advisors LLC purchased a new stake in Allstate in the 1st quarter worth about $3,341,000. Dock Street Asset Management Inc. acquired a new stake in Allstate during the 1st quarter worth about $207,000. First Citizens Bank & Trust Co. grew its stake in Allstate by 5.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after acquiring an additional 2,981 shares in the last quarter. Finally, Blackstone Inc. acquired a new position in shares of Allstate in the 4th quarter valued at about $52,053,000. Institutional investors own 76.47% of the company's stock.

About Allstate

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.

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