Allstate Corporation (The) (NYSE:ALL) had its price target upped by Credit Suisse Group from $91.00 to $95.00 in a report released on Thursday. The brokerage currently has a neutral rating on the insurance provider’s stock.

ALL has been the subject of several other research reports. Barclays PLC raised their price objective on Allstate Corporation (The) from $101.00 to $107.00 and gave the company an overweight rating in a report on Friday, August 11th. Citigroup Inc. raised their target price on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the company a buy rating in a research note on Thursday, July 13th. Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a buy rating to a hold rating and raised their target price for the company from $90.00 to $96.00 in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Allstate Corporation (The) from a hold rating to a sell rating in a research note on Tuesday, October 10th. Finally, BidaskClub downgraded shares of Allstate Corporation (The) from a buy rating to a hold rating in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $92.31.

Allstate Corporation (NYSE:ALL) traded down $0.01 during trading hours on Thursday, reaching $97.84. 2,825,472 shares of the company were exchanged, compared to its average volume of 1,841,683. The stock has a market capitalization of $35,107.54, a price-to-earnings ratio of 14.41, a PEG ratio of 1.98 and a beta of 1.09. The company has a current ratio of 0.26, a quick ratio of 0.25 and a debt-to-equity ratio of 0.31. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $98.21.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.01). The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Allstate Corporation (The) had a net margin of 7.32% and a return on equity of 13.11%. Allstate Corporation (The)’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. sell-side analysts predict that Allstate Corporation will post 6.23 EPS for the current fiscal year.

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

In other news, President Matthew E. Winter sold 48,059 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total transaction of $4,543,017.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 127,560 shares in the company, valued at $12,026,356.80. The disclosure for this sale can be found here. Company insiders own 1.58% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FDx Advisors Inc. increased its holdings in shares of Allstate Corporation (The) by 11.1% during the third quarter. FDx Advisors Inc. now owns 13,841 shares of the insurance provider’s stock worth $1,272,000 after purchasing an additional 1,379 shares during the period. Global X MANAGEMENT CO LLC increased its holdings in shares of Allstate Corporation (The) by 5.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 10,127 shares of the insurance provider’s stock worth $931,000 after purchasing an additional 550 shares during the period. Jennison Associates LLC bought a new position in shares of Allstate Corporation (The) during the third quarter worth approximately $1,954,000. Candriam Luxembourg S.C.A. increased its holdings in shares of Allstate Corporation (The) by 17.7% during the third quarter. Candriam Luxembourg S.C.A. now owns 324,784 shares of the insurance provider’s stock worth $29,851,000 after purchasing an additional 48,910 shares during the period. Finally, Breton Hill Capital Ltd. increased its holdings in shares of Allstate Corporation (The) by 56.9% during the third quarter. Breton Hill Capital Ltd. now owns 19,097 shares of the insurance provider’s stock worth $1,755,000 after purchasing an additional 6,927 shares during the period. 76.75% of the stock is currently owned by institutional investors.

Allstate Corporation (The) Company Profile

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.

Analyst Recommendations for Allstate Corporation (The) (NYSE:ALL)

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