Allstate (NYSE:ALL) Stock Rating Lowered by Wall Street Zen

Allstate (NYSE:ALL) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

ALL has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a report on Friday. UBS Group boosted their price target on Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Morgan Stanley lifted their target price on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Citigroup raised shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.53.

Allstate Stock Up 2.2%

NYSE:ALL opened at $202.29 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The company’s fifty day moving average price is $201.86 and its 200-day moving average price is $201.23. Allstate has a 1-year low of $176.00 and a 1-year high of $215.70. The firm has a market capitalization of $52.94 billion, a P/E ratio of 9.51, a PEG ratio of 0.69 and a beta of 0.35.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Allstate will post 18.74 EPS for the current year.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Allstate in the 2nd quarter valued at about $482,870,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock worth $2,424,710,000 after purchasing an additional 2,374,684 shares during the period. Boston Partners grew its position in Allstate by 613.9% in the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock valued at $512,627,000 after buying an additional 2,134,893 shares during the last quarter. Swedbank AB increased its stake in Allstate by 2,157.8% in the 3rd quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after buying an additional 823,559 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock worth $482,073,000 after buying an additional 497,982 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.