Allstate (NYSE:ALL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allstate (NYSE:ALL) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other brokerages also recently weighed in on ALL. Citigroup upgraded Allstate to a “hold” rating in a research note on Wednesday, August 13th. Evercore ISI set a $233.00 price objective on Allstate and gave the company an “in-line” rating in a research report on Wednesday, October 1st. BMO Capital Markets increased their price objective on Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. increased their price objective on Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company reduced their price target on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.27.

Allstate Price Performance

NYSE ALL opened at $192.99 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $203.99 and a 200 day simple moving average of $201.13. The company has a market cap of $50.85 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.70 and a beta of 0.38. Allstate has a 1 year low of $176.00 and a 1 year high of $215.70.

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

Hedge Funds Weigh In On Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Guerra Pan Advisors LLC boosted its position in shares of Allstate by 1.5% during the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after acquiring an additional 49 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock valued at $338,000 after purchasing an additional 51 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in Allstate by 1.1% during the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Allstate by 4.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 53 shares in the last quarter. Finally, L2 Asset Management LLC boosted its holdings in Allstate by 4.8% during the second quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 53 shares in the last quarter. 76.47% of the stock is owned by 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.