Allstate (NYSE:ALL) Raised to Strong-Buy at StockNews.com

Allstate (NYSE:ALL - Get Free Report) was upgraded by equities researchers at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also recently weighed in on ALL. UBS Group upped their price target on Allstate from $171.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, February 12th. Piper Sandler upped their price target on Allstate from $172.00 to $188.00 and gave the company an "overweight" rating in a research report on Monday, April 1st. HSBC upgraded Allstate from a "hold" rating to a "buy" rating and upped their price target for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. BMO Capital Markets upped their price target on Allstate from $140.00 to $158.00 and gave the company a "market perform" rating in a research report on Friday, January 19th. Finally, Morgan Stanley upped their price target on Allstate from $187.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $174.59.

Allstate Stock Performance

Shares of NYSE:ALL traded down $0.80 during midday trading on Tuesday, reaching $169.08. The company had a trading volume of 1,135,092 shares, compared to its average volume of 1,649,160. The company's 50 day moving average price is $167.50 and its 200 day moving average price is $153.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $44.62 billion, a P/E ratio of 37.32, a P/E/G ratio of 0.39 and a beta of 0.51. Allstate has a 52-week low of $100.57 and a 52-week high of $177.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts' consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. During the same period in the previous year, the firm earned ($1.30) EPS. The firm's quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Allstate will post 15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the firm's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Institutional investors have recently modified their holdings of the business. Ellsworth Advisors LLC purchased a new stake in shares of Allstate during the fourth quarter valued at $4,312,000. SteelPeak Wealth LLC boosted its position in Allstate by 175.2% in the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider's stock worth $2,209,000 after purchasing an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Allstate by 484.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider's stock worth $46,488,000 after purchasing an additional 275,319 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Allstate by 214.6% in the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider's stock worth $220,000 after purchasing an additional 1,071 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Allstate by 88.7% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider's stock worth $3,429,000 after purchasing an additional 11,512 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other 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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