Allstate’s (ALL) “Buy (B)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b) rating on shares of Allstate (NYSE:ALL) in a research note issued to investors on Friday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wolfe Research raised Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Cantor Fitzgerald raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.27.

Allstate Price Performance

NYSE ALL opened at $193.37 on Friday. The company has a market capitalization of $50.95 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business’s fifty day moving average is $204.27 and its 200 day moving average is $201.14. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $215.70.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share. Sell-side analysts predict that Allstate will post 18.74 earnings per share for the current year.

Institutional Investors Weigh In On Allstate

Large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider’s stock worth $2,352,000 after purchasing an additional 2,643 shares during the last quarter. Atlas Capital Advisors Inc. increased its stake in Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after acquiring an additional 4,454 shares during the last quarter. Richard Bernstein Advisors LLC bought a new stake in Allstate during the first quarter worth approximately $3,341,000. Dock Street Asset Management Inc. bought a new stake in Allstate during the first quarter worth approximately $207,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in Allstate during the first quarter worth approximately $22,405,000. 76.47% of the stock is owned by institutional investors.

About Allstate

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.