Allstate (NYSE:ALL) Downgraded by Keefe, Bruyette & Woods to “Market Perform”

Allstate (NYSE:ALL) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, Marketbeat reports. They presently have a $242.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 9.51% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 target price on shares of Allstate in a report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Allstate Trading Down 0.0%

NYSE:ALL opened at $220.98 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a one year low of $188.08 and a one year high of $227.62. The company has a market cap of $56.88 billion, a PE ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18. The firm has a 50-day moving average of $213.31 and a 200-day moving average of $208.65.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.53 EPS. As a group, equities research analysts expect that Allstate will post 29.43 EPS for the current fiscal year.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last three months. 1.55% of the stock is currently owned by insiders.

Institutional Trading of Allstate

Several hedge funds have recently made changes to their positions in ALL. MV Capital Management Inc. bought a new position in shares of Allstate during the 4th quarter worth $25,000. Dorato Capital Management bought a new stake in Allstate in the 4th quarter valued at about $27,000. Navalign LLC purchased a new stake in Allstate during the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. boosted its position in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Allstate in the first quarter worth about $30,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.