Allstate (NYSE:ALL) Receives Equal Weight Rating from Morgan Stanley

Allstate (NYSE:ALL)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Morgan Stanley in a report released on Tuesday,Benzinga reports. They presently have a $215.00 price objective on the insurance provider’s stock, down from their prior price objective of $245.00. Morgan Stanley’s price objective indicates a potential upside of 1.56% from the company’s previous close.

Several other equities research analysts have also recently commented on ALL. Wells Fargo & Company raised their target price on Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. UBS Group raised their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $246.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Wall Street Zen lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, BMO Capital Markets lifted their price target on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.93.

Allstate Trading Up 2.2%

ALL opened at $211.70 on Tuesday. Allstate has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a fifty day moving average of $203.72 and a 200-day moving average of $202.44. The stock has a market cap of $55.40 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 0.39 and a beta of 0.25. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the firm posted $3.91 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Allstate will post 18.74 EPS for the current year.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 3,786 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $215.13, for a total value of $814,482.18. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,651,973.98. This trade represents a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 28,807 shares of company stock valued at $6,198,726. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arlington Trust Co LLC boosted its position in shares of Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC boosted its holdings in Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. Clearstead Trust LLC grew its stake in shares of Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 152 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in shares of Allstate in the third quarter valued at about $31,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.