Shares of Allstate Corporation (The) (NYSE:ALL) hit a new 52-week high on Thursday after Credit Suisse Group raised their price target on the stock from $91.00 to $95.00. Credit Suisse Group currently has a neutral rating on the stock. Allstate Corporation (The) traded as high as $97.72 and last traded at $0.00, with a volume of shares changing hands.

ALL has been the subject of several other research reports. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. BidaskClub downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 price objective (up previously from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. UBS AG reiterated a “neutral” rating and issued a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG downgraded Allstate Corporation (The) from a “buy” rating to a “hold” rating and raised their price objective for the stock from $90.00 to $96.00 in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $92.31.

In other Allstate Corporation (The) news, CFO Steven E. Shebik sold 35,197 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the completion of the sale, the chief financial officer now directly owns 127,560 shares in the company, valued at $12,026,356.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew E. Winter sold 48,059 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $94.53, for a total value of $4,543,017.27. The disclosure for this sale can be found here. Insiders have sold 95,544 shares of company stock valued at $9,017,568 over the last 90 days. Corporate insiders own 1.58% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Allstate Corporation (The) by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after purchasing an additional 25,527,763 shares during the period. Janus Henderson Group PLC grew its holdings in Allstate Corporation (The) by 4,753.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock worth $203,116,000 after acquiring an additional 2,249,334 shares during the period. APG Asset Management N.V. grew its holdings in Allstate Corporation (The) by 182.7% during the 3rd quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock worth $309,593,000 after acquiring an additional 2,176,800 shares during the period. Principal Financial Group Inc. grew its holdings in Allstate Corporation (The) by 249.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,827,612 shares of the insurance provider’s stock worth $161,634,000 after acquiring an additional 1,304,131 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Allstate Corporation (The) by 480.2% during the 2nd quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock worth $132,328,000 after acquiring an additional 1,238,341 shares during the period. Institutional investors own 76.75% of the company’s stock.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. Allstate Corporation (The)’s quarterly revenue was up 3.2% compared to the same quarter last year.

Allstate Corporation (The) declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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About Allstate Corporation (The)

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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