Allstate (NYSE:ALL) Rating Lowered to Hold at StockNews.com

Allstate (NYSE:ALL - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Argus raised Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their price target on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, January 14th. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Finally, Barclays dropped their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $219.27.

Allstate Stock Up 0.2 %

NYSE:ALL traded up $0.37 during mid-day trading on Friday, reaching $194.61. The stock had a trading volume of 1,905,656 shares, compared to its average volume of 1,623,931. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The company has a market capitalization of $51.58 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. Allstate has a 1-year low of $156.66 and a 1-year high of $212.91. The stock's 50 day simple moving average is $197.27 and its two-hundred day simple moving average is $194.34.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities analysts anticipate that Allstate will post 18.74 EPS for the current year.

Allstate announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Apella Capital LLC lifted its holdings in shares of Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock worth $623,000 after acquiring an additional 60 shares during the period. Intrust Bank NA boosted its stake in Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock valued at $2,340,000 after buying an additional 61 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock valued at $571,000 after buying an additional 62 shares in the last quarter. Mather Group LLC. grew its position in Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock valued at $697,000 after acquiring an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in shares of Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after acquiring an additional 62 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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