Allstate (NYSE:ALL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Allstate's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating increased confidence among analysts.
• Other research firms, including Raymond James and JPMorgan Chase, have raised their target prices for Allstate, with consensus now at $229.07.
• Allstate reported strong quarterly earnings of $5.94 per share, exceeding estimates and reflecting a 5.8% year-over-year revenue increase.

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

A number of other research firms have also recently commented on ALL. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Morgan Stanley boosted their price objective on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday. Barclays reiterated an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a research note on Thursday. Finally, Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $229.07.

Allstate Stock Performance

ALL opened at $202.91 on Tuesday. The firm has a market cap of $53.47 billion, a P/E ratio of 9.54, a PEG ratio of 0.90 and a beta of 0.35. The company has a 50 day simple moving average of $198.36 and a two-hundred day simple moving average of $197.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. Allstate has a 1-year low of $168.36 and a 1-year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion during 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 revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. Equities analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Arlington Trust Co LLC lifted its position in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Hughes Financial Services LLC bought a new position in Allstate in the first quarter valued at $28,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Allstate during the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 126 shares during the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Allstate during the 2nd quarter valued at $34,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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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