Allstate (NYSE:ALL) Upgraded to “Buy” by HSBC

Allstate (NYSE:ALL) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat reports. The firm currently has a $190.00 target price on the insurance provider’s stock, up from their prior target price of $158.00. HSBC’s target price points to a potential upside of 11.91% from the stock’s previous close.

Several other equities research analysts have also weighed in on ALL. Morgan Stanley raised Allstate from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $117.00 to $171.00 in a research report on Thursday, January 4th. Keefe, Bruyette & Woods increased their target price on Allstate from $171.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. UBS Group increased their target price on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Raymond James increased their target price on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group increased their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.56.

Allstate Stock Down 0.6 %

ALL stock opened at $169.78 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. Allstate has a 12-month low of $100.57 and a 12-month high of $171.61. The stock’s 50 day simple moving average is $159.13 and its 200 day simple moving average is $140.17.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same period in the prior year, the company posted ($1.36) EPS. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts expect that Allstate will post 13.11 earnings per share for the current year.

Insider Activity at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Allstate in the 3rd quarter valued at approximately $25,000. Private Wealth Management Group LLC acquired a new stake in Allstate in the 4th quarter valued at approximately $25,000. First Capital Advisors Group LLC. acquired a new stake in Allstate in the 2nd quarter valued at approximately $29,000. Cowa LLC acquired a new stake in Allstate in the 1st quarter valued at approximately $30,000. Finally, Garner Asset Management Corp acquired a new stake in Allstate in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.