Allstate (NYSE:ALL) Stock Rating Upgraded by Citigroup

Key Points

• Allstate's stock rating was upgraded to "hold" by analysts at Citigroup in a recent report.
• Other analysts have also raised their price targets for Allstate, with Keefe, Bruyette & Woods increasing it to $246.00 and Evercore ISI adjusting to $230.00.
• Despite the positive outlook, Allstate's stock is currently down 0.1%, trading at $208.59 per share.

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

A number of other analysts also recently commented on ALL. Keefe, Bruyette & Woods upped their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Evercore ISI upped their price target on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. William Blair initiated coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. Finally, Jefferies Financial Group upped their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.33.

Allstate Stock Down 0.1%

Shares of ALL stock opened at $208.59 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock's fifty day moving average price is $198.18 and its 200 day moving average price is $198.33. The company has a market cap of $54.96 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. Allstate has a 1-year low of $176.00 and a 1-year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. On average, 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 large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its position in 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 acquiring an additional 2,643 shares during the period. Richard Bernstein Advisors LLC purchased a new position in shares of Allstate during the first quarter worth $3,341,000. Atlas Capital Advisors Inc. boosted its position in shares of Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock worth $1,390,000 after buying an additional 4,454 shares during the period. Dock Street Asset Management Inc. purchased a new position in shares of Allstate during the first quarter worth $207,000. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Allstate by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after buying an additional 2,981 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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