Allstate (NYSE:ALL) Rating Lowered to Hold at Argus

Allstate (NYSE:ALLGet Rating) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Friday, The Fly reports.

Other analysts have also issued reports about the company. Piper Sandler dropped their price target on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Credit Suisse Group assumed coverage on Allstate in a report on Thursday, April 28th. They set an “outperform” rating and a $188.00 price target on the stock. The Goldman Sachs Group upgraded Allstate from a “sell” rating to a “buy” rating and boosted their target price for the company from $111.00 to $142.00 in a research note on Wednesday, March 2nd. Morgan Stanley boosted their target price on Allstate from $140.00 to $152.00 and gave the company an “equal weight” rating in a research note on Thursday, April 14th. Finally, Barclays boosted their target price on Allstate from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate has an average rating of “Hold” and an average price target of $142.31.

Shares of NYSE:ALL opened at $125.79 on Friday. The business’s 50 day moving average is $134.42 and its 200 day moving average is $124.11. The stock has a market cap of $34.59 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 2.59 and a beta of 0.82. Allstate has a 12-month low of $106.11 and a 12-month high of $144.46. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.38.

Allstate (NYSE:ALLGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21). The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $11.14 billion. Allstate had a return on equity of 12.50% and a net margin of 7.20%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.11 earnings per share. As a group, equities research analysts expect that Allstate will post 9.1 earnings per share for the current year.

In related news, CAO John C. Pintozzi sold 3,000 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $123.87, for a total transaction of $371,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.77% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. US Asset Management LLC purchased a new position in Allstate during the first quarter worth about $32,000. MCF Advisors LLC purchased a new position in shares of Allstate in the 1st quarter worth about $34,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the 4th quarter worth about $29,000. Rational Advisors LLC purchased a new position in shares of Allstate in the 1st quarter worth about $40,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Allstate in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

Allstate Company Profile (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

Further Reading

The Fly logo

Analyst Recommendations for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.