Allstate (NYSE:ALL) Given Neutral Rating at Cantor Fitzgerald

Allstate (NYSE:ALLGet Free Report)‘s stock had its “neutral” rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They currently have a $220.00 price target on the insurance provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 2.40% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Evercore ISI set a $225.00 price objective on shares of Allstate in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their price objective on shares of Allstate from $216.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Mizuho set a $255.00 price target on Allstate in a report on Wednesday, January 14th. Finally, TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.31.

Read Our Latest Analysis on ALL

Allstate Stock Performance

NYSE ALL traded up $7.73 during trading on Thursday, reaching $214.85. 1,034,994 shares of the company’s stock were exchanged, compared to its average volume of 1,804,464. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day moving average price of $203.97 and a 200-day moving average price of $203.60. The stock has a market capitalization of $56.22 billion, a P/E ratio of 6.95, a PEG ratio of 0.44 and a beta of 0.23. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $216.62.

Allstate (NYSE:ALLGet Free Report) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The company had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $17.23 billion. During the same period in the previous year, the company posted $7.67 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares in the company, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 48,400 shares of company stock valued at $10,313,256 over the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate in the fourth quarter valued at $231,000. Belpointe Asset Management LLC raised its position in Allstate by 8.5% during the 2nd quarter. Belpointe Asset Management LLC now owns 2,550 shares of the insurance provider’s stock worth $513,000 after purchasing an additional 199 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Allstate by 8.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 94,968 shares of the insurance provider’s stock worth $19,199,000 after buying an additional 7,500 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in shares of Allstate by 4.4% in the second quarter. Maryland State Retirement & Pension System now owns 12,826 shares of the insurance provider’s stock valued at $2,582,000 after buying an additional 546 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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About Allstate

(Get Free Report)

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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