Allstate (NYSE:ALL) Given “Hold” Rating at Argus

Allstate (NYSE:ALL)‘s stock had its “hold” rating restated by analysts at Argus in a research note issued on Friday,Benzinga reports.

Several other research analysts have also weighed in on the stock. Evercore set a $240.00 target price on shares of Allstate in a research report on Friday, July 10th. UBS Group upped their price objective on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and upped their target price for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $250.00 price objective (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. Four investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $265.26.

Allstate Stock Down 1.7%

ALL opened at $257.24 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a 12 month low of $188.08 and a 12 month high of $277.22. The stock has a market capitalization of $65.05 billion, a P/E ratio of 5.14, a P/E/G ratio of 0.40 and a beta of 0.16. The business has a 50 day simple moving average of $253.33 and a 200-day simple moving average of $226.56.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the prior year, the company posted $5.94 earnings per share. Allstate’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts anticipate that Allstate will post 34.45 earnings per share for the current fiscal year.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 91,446 shares of company stock worth $24,208,675 in the last quarter. 1.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital Advisors Inc. OK raised its holdings in shares of Allstate by 2.6% during the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock worth $435,000 after acquiring an additional 46 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Allstate by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after buying an additional 50 shares during the last quarter. Natural Investments LLC increased its holdings in Allstate by 1.5% in the second quarter. Natural Investments LLC now owns 3,327 shares of the insurance provider’s stock worth $791,000 after buying an additional 50 shares during the last quarter. Compound Planning Inc. grew its position in Allstate by 1.6% in the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after acquiring an additional 50 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Allstate by 0.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.