Allstate Corporation (The) (NYSE:ALL) had its price target hoisted by research analysts at UBS AG from $93.00 to $102.00 in a research report issued on Monday, November 6th, www.benzinga.com reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. UBS AG’s price target suggests a potential upside of 1.83% from the stock’s current price.
ALL has been the topic of a number of other research reports. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. BidaskClub lowered shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Credit Suisse Group upped their target price on shares of Allstate Corporation (The) from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and boosted their price objective for the company from $90.00 to $96.00 in a research report on Wednesday, August 2nd. Finally, Buckingham Research began coverage on shares of Allstate Corporation (The) in a research report on Monday, September 11th. They set an “underperform” rating and a $74.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $93.38.
Shares of Allstate Corporation (NYSE ALL) opened at $100.17 on Monday. The company has a market cap of $35,943.60, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate Corporation has a 12 month low of $69.04 and a 12 month high of $101.12.
Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Allstate Corporation (The) had a return on equity of 13.11% and a net margin of 7.32%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. equities analysts anticipate that Allstate Corporation will post 6.4 earnings per share for the current fiscal year.
Allstate Corporation (The) declared that its board has initiated a stock repurchase plan on Tuesday, August 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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In related news, CEO Thomas J. Wilson sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $99.29, for a total value of $12,907,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Insiders sold 428,242 shares of company stock valued at $42,425,971 over the last quarter. Insiders own 1.58% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Global X Management Co. LLC increased its stake in Allstate Corporation (The) by 13.3% in the 1st quarter. Global X Management Co. LLC now owns 7,836 shares of the insurance provider’s stock valued at $639,000 after buying an additional 921 shares during the period. Edgar Lomax Co. VA increased its stake in Allstate Corporation (The) by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 978,270 shares of the insurance provider’s stock valued at $79,719,000 after buying an additional 53,057 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in Allstate Corporation (The) in the 1st quarter valued at approximately $2,481,000. Marshall Wace North America L.P. acquired a new position in shares of Allstate Corporation (The) during the 1st quarter worth $2,250,000. Finally, Vanguard Group Inc. increased its stake in shares of Allstate Corporation (The) by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock worth $1,926,258,000 after purchasing an additional 733,684 shares during the last quarter. Institutional investors and hedge funds own 76.42% of the company’s stock.
About Allstate Corporation (The)
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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