Allstate (NYSE:ALL) Shares Down 3.1% - Time to Sell?

Key Points

• Allstate's shares fell by 3.1%, trading at $203.00, significantly lower than the previous close of $209.52, with a drastic decline in trading volume.
• Multiple analysts have adjusted their ratings on Allstate, with Barclays maintaining an "underweight" rating but increasing the price target to $198.00, while Raymond James set a more optimistic price objective of $260.00.
• Allstate's recent quarterly earnings report showed earnings per share of $5.94, beating expectations, although revenue fell short at $15.05 billion compared to an anticipated $16.59 billion.

Shares of The Allstate Corporation (NYSE:ALL - Get Free Report) were down 3.1% during trading on Wednesday . The stock traded as low as $203.07 and last traded at $203.00. Approximately 182,766 shares traded hands during trading, a decline of 89% from the average daily volume of 1,647,938 shares. The stock had previously closed at $209.52.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ALL shares. Barclays restated an "underweight" rating and set a $198.00 price target (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, Citigroup raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of "Moderate Buy" and a consensus price target of $234.50.

Allstate Stock Down 4.7%

The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $52.59 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.76 and a beta of 0.38. The business's fifty day moving average is $206.20 and its two-hundred day moving average is $201.07.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 earnings per share. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Guerra Pan Advisors LLC raised its position in Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider's stock worth $690,000 after acquiring an additional 49 shares in the last quarter. Rehmann Capital Advisory Group raised its position in Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after acquiring an additional 51 shares in the last quarter. Vantage Point Financial LLC raised its position in Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after acquiring an additional 52 shares in the last quarter. Focus Financial Network Inc. raised its position in Allstate by 1.1% in the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider's stock worth $1,012,000 after acquiring an additional 52 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider's stock worth $239,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds 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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