Allstate (NYSE:ALL) Upgraded by Wall Street Zen to "Buy" Rating

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

Several other analysts have also recently commented on ALL. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Finally, UBS Group raised their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.07.

Allstate Trading Up 0.6%

Shares of Allstate stock opened at $194.21 on Friday. The company's fifty day moving average is $200.18 and its two-hundred day moving average is $196.69. Allstate has a 1 year low of $162.27 and a 1 year high of $213.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $51.43 billion, a P/E ratio of 13.27, a PEG ratio of 1.01 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) 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 company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter in the prior year, the business earned $5.13 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts forecast that Allstate will post 18.74 earnings per share for the current year.

Institutional Trading of Allstate

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Allstate by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after purchasing an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Allstate by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after acquiring an additional 2,374,684 shares during the period. Bank of America Corp DE raised its stake in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC boosted its position in Allstate by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock worth $1,236,060,000 after acquiring an additional 191,147 shares during the period. Finally, GQG Partners LLC increased its holdings in shares of Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after purchasing an additional 89,185 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.