Allstate (NYSE:ALL) Upgraded at Mizuho

Allstate (NYSE:ALL) was upgraded by stock analysts at Mizuho to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also commented on ALL. UBS Group boosted their price target on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Evercore ISI set a $233.00 target price on shares of Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Wolfe Research raised shares of Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Morgan Stanley reissued an “equal weight” rating and set a $215.00 price target (down from $245.00) on shares of Allstate in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $236.93.

Allstate Stock Performance

NYSE ALL opened at $209.46 on Monday. Allstate has a 52-week low of $176.00 and a 52-week high of $215.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $54.81 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 0.40 and a beta of 0.25. The company’s fifty day moving average is $203.68 and its two-hundred day moving average is $202.44.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.91 EPS. Equities research analysts forecast that Allstate will post 18.74 EPS for the current year.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 28,807 shares of company stock valued at $6,198,726. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently made changes to their positions in the company. Guerra Pan Advisors LLC lifted 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 worth $690,000 after purchasing an additional 49 shares during the last quarter. South Plains Financial Inc. increased its holdings in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares during the last quarter. Humankind Investments LLC raised its stake in Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after buying an additional 51 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock worth $1,012,000 after buying an additional 52 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

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.