Allstate (NYSE:ALL) Rating Lowered to “Hold” at Wall Street Zen

Allstate (NYSE:ALL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Several other research firms have also recently weighed in on ALL. Wells Fargo & Company cut their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Morgan Stanley lifted their target price on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their target price on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Finally, UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.07.

Allstate Stock Performance

NYSE:ALL opened at $193.83 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. Allstate has a 12-month low of $168.36 and a 12-month high of $213.18. The stock has a 50-day moving average price of $198.69 and a 200 day moving average price of $197.01. The stock has a market capitalization of $51.33 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.13 EPS. Equities research analysts forecast that Allstate will post 18.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider’s stock worth $6,791,914,000 after buying an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Allstate by 25.4% during the 1st 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 buying an additional 2,374,684 shares during the last quarter. Bank of America Corp DE grew its stake in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock worth $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Geode Capital Management LLC grew its stake in Allstate by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock worth $1,236,060,000 after buying an additional 191,147 shares during the last quarter. Finally, GQG Partners LLC grew its stake in Allstate by 2.1% during the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock worth $912,288,000 after buying an additional 89,185 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other 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.