The Allstate Corporation (NYSE:ALL) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts rate Allstate “Hold” on average: Of 22 analysts, three recommend selling, nine rate it a hold, eight recommend buying and two issue strong-buy ratings. The average 12-month price target is $270.19.
• Allstate recently outperformed earnings expectations, reporting $8.99 in quarterly EPS versus the $6.06 consensus estimate, while revenue rose 11.8% year over year to $18.60 billion.
• The stock opened at $249.94, with a 12-month range of $188.08 to $277.22. Two insiders recently sold shares, while institutional investors own 76.47% of the company.

Shares of The Allstate Corporation (NYSE:ALL - Get Free Report) have been given an average recommendation of "Hold" by the twenty-two analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $270.19.

Several brokerages have recently weighed in on ALL. Wells Fargo & Company upgraded shares of Allstate from an "underweight" rating to an "equal weight" rating and dropped their price target for the stock from $250.00 to $236.00 in a research note on Monday, October 12th. Zacks Research downgraded shares of Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 15th. UBS Group upped their price objective on Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. HSBC upgraded Allstate from a "hold" rating to a "buy" rating and set a $266.00 price objective for the company in a research note on Wednesday, October 7th. Finally, Atlantic Securities set a $319.00 target price on Allstate in a report on Wednesday, July 15th.

Allstate Stock Performance

ALL opened at $249.94 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a market cap of $63.20 billion, a price-to-earnings ratio of 4.99, a PEG ratio of 0.55 and a beta of 0.13. The company's 50 day moving average is $246.08 and its 200 day moving average is $235.84. Allstate has a 12-month low of $188.08 and a 12-month high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period in the previous year, the business posted $5.94 earnings per share. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts predict that Allstate will post 36.20 EPS for the current year.

Insider Activity

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Dugenske sold 32,996 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares of the company's stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cornerstone Financial Management LLC lifted its stake in shares of Allstate by 24.9% in the 2nd quarter. Cornerstone Financial Management LLC now owns 226 shares of the insurance provider's stock valued at $54,000 after purchasing an additional 45 shares during the last quarter. Capital Advisors Inc. OK grew its holdings in shares of Allstate by 2.6% in the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider's stock worth $435,000 after purchasing an additional 46 shares during the last quarter. Natural Investments LLC lifted its holdings in Allstate by 1.5% during the 2nd quarter. Natural Investments LLC now owns 3,327 shares of the insurance provider's stock valued at $791,000 after buying an additional 50 shares in the last quarter. Kaizen Financial Strategies boosted its position in Allstate by 5.5% in the 3rd quarter. Kaizen Financial Strategies now owns 967 shares of the insurance provider's stock valued at $215,000 after buying an additional 50 shares during the period. Finally, Root Financial Partners LLC boosted its position in Allstate by 4.7% in the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock valued at $243,000 after buying an additional 53 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Allstate Company Profile

Allstate Corp. NYSE: ALL is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.

The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.

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