Allstate (NYSE:ALL) Given “Buy” Rating at Roth Mkm

Allstate (NYSE:ALL)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a research report issued on Wednesday, Benzinga reports. They currently have a $200.00 price objective on the insurance provider’s stock. Roth Mkm’s price objective indicates a potential upside of 10.96% from the stock’s current price.

ALL has been the subject of a number of other reports. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group raised their target price on shares of Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Morgan Stanley decreased their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Three research analysts have rated the stock with 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.29.

Allstate Stock Up 4.8 %

Shares of ALL stock traded up $8.29 on Wednesday, hitting $180.25. The stock had a trading volume of 448,569 shares, compared to its average volume of 1,555,868. Allstate has a 12-month low of $104.29 and a 12-month high of $180.90. The business has a 50 day moving average of $165.51 and a 200 day moving average of $165.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $47.57 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted ($4.42) earnings per share. As a group, analysts expect that Allstate will post 13.64 EPS for the current year.

Insider Activity

In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Evergreen Capital Management LLC grew its stake in shares of Allstate by 4.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,072 shares of the insurance provider’s stock valued at $654,000 after acquiring an additional 162 shares during the period. Magnetar Financial LLC bought a new position in Allstate in the 2nd quarter worth approximately $4,698,000. Public Sector Pension Investment Board boosted its stake in Allstate by 8.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 44,756 shares of the insurance provider’s stock worth $7,146,000 after purchasing an additional 3,541 shares during the period. DRW Securities LLC bought a new position in Allstate in the 2nd quarter worth approximately $340,000. Finally, Frank Rimerman Advisors LLC bought a new position in Allstate in the 2nd quarter worth approximately $364,000. 76.47% of the stock is currently owned by 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.