Allstate (NYSE:ALL) Stock Rating Upgraded by Cantor Fitzgerald

Key Points

• Allstate's stock rating was upgraded to a "hold" by Cantor Fitzgerald, with several other analysts providing mixed ratings and price targets ranging from $198 to $260.
• The insurance provider reported earnings per share of $5.94, significantly surpassing estimates, while revenue for the quarter was $15.05 billion, slightly below expectations.
• Institutional investors hold 76.47% of Allstate's stock, indicating strong confidence in the company's performance and stability.

Allstate (NYSE:ALL - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on ALL. Barclays reiterated an "underweight" rating and issued a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Jefferies Financial Group lifted their price target on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday. Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a report on Monday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.50.

Allstate Stock Performance

NYSE ALL opened at $208.95 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $55.06 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.86 and a beta of 0.35. The firm's 50 day simple moving average is $198.14 and its 200 day simple moving average is $198.23. Allstate has a 1 year low of $175.76 and a 1 year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the business posted $1.61 EPS. The company's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently modified their holdings of the company. Guerra Pan Advisors LLC lifted its holdings in Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider's stock valued at $690,000 after buying an additional 49 shares during the period. Rehmann Capital Advisory Group raised its position in shares of Allstate by 3.2% in the 1st 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 shares of Allstate by 3.6% in the 1st 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. Parkside Financial Bank & Trust lifted its stake in shares of Allstate by 4.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider's stock valued at $239,000 after purchasing an additional 53 shares during the period. Finally, Confluence Wealth Services Inc. boosted its position in shares of Allstate by 0.7% during the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after purchasing an additional 54 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

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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