Allstate (NYSE:ALL) Rating Lowered to Hold at Evercore ISI

Allstate (NYSE:ALL) was downgraded by equities researchers at Evercore ISI from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $233.00 price objective on the insurance provider’s stock. Evercore ISI’s price objective indicates a potential upside of 10.95% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Jefferies Financial Group lifted their target price on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. BMO Capital Markets upped their target price on shares of Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Morgan Stanley raised their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Two 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.56.

Allstate Trading Down 0.3%

Shares of ALL opened at $210.00 on Wednesday. The stock’s 50-day moving average price is $204.42 and its 200 day moving average price is $201.01. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $55.34 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.83 and a beta of 0.38. Allstate has a 12-month low of $176.00 and a 12-month high of $215.70.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion during 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%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. As a group, research analysts predict that Allstate will post 18.74 earnings per share for the current year.

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Allstate by 5.2% in the 3rd quarter. GAMMA Investing LLC now owns 7,888 shares of the insurance provider’s stock valued at $1,693,000 after purchasing an additional 390 shares during the last quarter. Cullen Capital Management LLC increased its stake in shares of Allstate by 2.9% in the second quarter. Cullen Capital Management LLC now owns 18,283 shares of the insurance provider’s stock valued at $3,681,000 after buying an additional 509 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its stake in shares of Allstate by 8.8% in the second quarter. Summit Financial Wealth Advisors LLC now owns 1,250 shares of the insurance provider’s stock valued at $252,000 after buying an additional 101 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Allstate by 1.8% in the second quarter. Corient Private Wealth LLC now owns 242,666 shares of the insurance provider’s stock valued at $48,852,000 after buying an additional 4,360 shares during the last quarter. Finally, CacheTech Inc. acquired a new position in Allstate during the 2nd quarter worth about $376,000. 76.47% of the stock is owned by institutional investors and hedge funds.

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.