Allstate (NYSE:ALL) Upgraded by StockNews.com to "Buy" Rating

Allstate (NYSE:ALL - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

Other analysts also recently issued research reports about the company. Barclays cut their target price on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 14th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $219.27.

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Allstate Stock Performance

NYSE ALL traded up $1.79 during trading hours on Tuesday, hitting $192.58. The company had a trading volume of 1,876,905 shares, compared to its average volume of 1,620,002. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The firm has a market cap of $51.04 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $196.82 and a 200-day simple moving average of $194.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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 predict that Allstate will post 18.74 EPS for the current year.

Allstate declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now owns 18,115 shares of the company's stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allstate

Hedge funds have recently bought and sold shares of the business. VSM Wealth Advisory LLC purchased a new stake in shares of Allstate in the fourth quarter worth approximately $25,000. Twin Tree Management LP acquired a new position in Allstate in the 4th quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in Allstate in the 4th quarter worth approximately $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of Allstate during the 4th quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Allstate during the 4th quarter valued at $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.