Allstate (ALL) Stock Rating Lowered by Wells Fargo & Co
Wells Fargo & Co cut shares of Allstate (NYSE:ALL) from an outperform rating to a market perform rating in a research report report published on Tuesday morning, Marketbeat reports.
A number of other equities research analysts have also recently commented on ALL. Citigroup dropped their target price on Allstate from $107.00 to $106.00 and set a buy rating on the stock in a research report on Monday, October 2nd. B. Riley reiterated a neutral rating on shares of Allstate in a report on Monday, November 6th. Zacks Investment Research upgraded Allstate from a hold rating to a buy rating and set a $114.00 price objective on the stock in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods cut Allstate from a market perform rating to an underperform rating in a report on Tuesday, January 2nd. Finally, UBS Group lowered their price objective on Allstate from $94.00 to $93.00 and set a neutral rating on the stock in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $96.43.
Allstate (NYSE:ALL) traded up $0.35 during trading hours on Tuesday, hitting $100.78. The stock had a trading volume of 1,571,600 shares, compared to its average volume of 2,262,337. Allstate has a 52-week low of $73.13 and a 52-week high of $105.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $36,160.00, a PE ratio of 14.00, a PEG ratio of 1.62 and a beta of 1.12.
Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the business earned $1.26 earnings per share. Allstate’s revenue was up 3.2% on a year-over-year basis. equities research analysts expect that Allstate will post 6.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.47%. The ex-dividend date was Wednesday, November 29th. Allstate’s payout ratio is 20.56%.
In other Allstate news, EVP Susan L. Lees sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $100.49, for a total value of $401,960.00. Following the transaction, the executive vice president now directly owns 24,341 shares of the company’s stock, valued at approximately $2,446,027.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suren Gupta sold 103,242 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Insiders sold a total of 432,242 shares of company stock worth $42,827,931 over the last three months. Corporate insiders own 1.50% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sandy Spring Bank lifted its stake in Allstate by 2.5% in the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 28 shares in the last quarter. South State Corp lifted its stake in Allstate by 3.2% in the 2nd quarter. South State Corp now owns 5,620 shares of the insurance provider’s stock worth $497,000 after purchasing an additional 176 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Allstate by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,597 shares of the insurance provider’s stock worth $672,000 after purchasing an additional 253 shares in the last quarter. Afam Capital Inc. lifted its stake in Allstate by 1.1% in the 2nd quarter. Afam Capital Inc. now owns 25,484 shares of the insurance provider’s stock worth $2,254,000 after purchasing an additional 271 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in Allstate by 10.8% in the 2nd quarter. Advisory Services Network LLC now owns 2,798 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 273 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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