Wall Street Zen Downgrades Allstate (NYSE:ALL) to Hold

Allstate (NYSE:ALL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other analysts have also recently commented on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. William Blair started coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley boosted their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $227.07.

Allstate Trading Down 0.8%

Shares of Allstate stock opened at $193.20 on Friday. The firm has a 50-day simple moving average of $200.99 and a two-hundred day simple moving average of $196.66. The company has a market cap of $51.16 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. Allstate has a fifty-two week low of $161.82 and a fifty-two week 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.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $5.13 EPS. As a group, equities analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Trading of Allstate

Several hedge funds have recently made changes to their positions in the company. Rehmann Capital Advisory Group grew its stake in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock valued at $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC grew its stake in shares of Allstate by 3.6% in the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after buying an additional 52 shares during the period. Confluence Wealth Services Inc. grew its stake in shares of Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after buying an additional 54 shares during the period. Linscomb Wealth Inc. grew its stake in shares of Allstate by 1.3% in the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after buying an additional 54 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of Allstate by 0.7% in the 1st quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock valued at $1,740,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

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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