Allstate (ALL) Coverage Initiated at Goldman Sachs Group

Research analysts at Goldman Sachs Group began coverage on shares of Allstate (NYSE:ALL) in a research report issued on Monday. The firm set a “neutral” rating and a $104.00 price target on the insurance provider’s stock. Goldman Sachs Group’s target price points to a potential upside of 1.13% from the company’s current price.

A number of other research firms also recently issued reports on ALL. Citigroup lowered their target price on shares of Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Wells Fargo & Company set a $110.00 target price on shares of Allstate and gave the company a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research downgraded shares of Allstate from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Deutsche Bank downgraded shares of Allstate from a “buy” rating to a “hold” rating and boosted their target price for the company from $90.00 to $96.00 in a report on Tuesday, August 8th. Finally, B. Riley restated a “neutral” rating on shares of Allstate in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Allstate has a consensus rating of “Hold” and an average target price of $95.08.

Shares of Allstate (NYSE:ALL) opened at $102.84 on Monday. Allstate has a twelve month low of $70.45 and a twelve month high of $104.10. The company has a market cap of $36,880.00, a PE ratio of 15.18, a PEG ratio of 1.99 and a beta of 1.12. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). Allstate had a net margin of 7.32% and a return on equity of 13.11%. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Allstate’s revenue for the quarter was up 3.2% compared to the same quarter last year. research analysts predict that Allstate will post 6.23 EPS for the current year.

In other Allstate news, Chairman Thomas J. Wilson sold 195,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $99.13, for a total transaction of $19,330,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suren Gupta sold 103,242 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was 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. Over the last quarter, insiders have sold 432,242 shares of company stock valued at $42,827,931. 1.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALL. Steward Partners Investment Advisory LLC acquired a new position in shares of Allstate during the third quarter worth $519,000. Americafirst Capital Management LLC acquired a new position in shares of Allstate during the third quarter worth $138,000. Dana Investment Advisors Inc. lifted its position in shares of Allstate by 22.8% during the third quarter. Dana Investment Advisors Inc. now owns 2,838 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 526 shares in the last quarter. Piedmont Investment Advisors LLC lifted its position in shares of Allstate by 1.2% during the third quarter. Piedmont Investment Advisors LLC now owns 104,197 shares of the insurance provider’s stock worth $9,577,000 after purchasing an additional 1,197 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Allstate by 4.7% during the third quarter. California Public Employees Retirement System now owns 1,073,908 shares of the insurance provider’s stock worth $98,703,000 after purchasing an additional 47,810 shares in the last quarter. Institutional investors own 76.33% of the company’s stock.

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Allstate Company Profile

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.

Analyst Recommendations for Allstate (NYSE:ALL)

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