Allstate Corp. (ALL) Rating Reiterated by Deutsche Bank AG
Allstate Corp. (NYSE:ALL)‘s stock had its “buy” rating restated by investment analysts at Deutsche Bank AG in a research note issued to investors on Thursday. They presently have a $80.00 price target on the stock.
Several other research firms have also weighed in on ALL. Zacks Investment Research upgraded Allstate Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Allstate Corp. in a report on Thursday, November 3rd. Credit Suisse Group AG set a $73.00 price target on Allstate Corp. and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Barclays PLC reiterated an “overweight” rating and set a $79.00 price target (up from $74.00) on shares of Allstate Corp. in a report on Friday, September 30th. Finally, William Blair reiterated an “underperform” rating on shares of Allstate Corp. in a report on Saturday, September 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of GBX 72.27 ($0.90).
Shares of Allstate Corp. (NYSE:ALL) opened at 69.64 on Thursday. The company has a 50-day moving average of $68.29 and a 200 day moving average of $68.10. Allstate Corp. has a 52-week low of $56.03 and a 52-week high of $70.38. The stock has a market cap of $25.64 billion, a P/E ratio of 18.86 and a beta of 0.96.
Allstate Corp. (NYSE:ALL) last posted its earnings results on Wednesday, November 2nd. The company reported $1.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.26. Allstate Corp. had a return on equity of 9.16% and a net margin of 4.25%. The firm earned $7.87 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the company earned $1.52 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts forecast that Allstate Corp. will post $4.25 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Westpac Banking Corp boosted its stake in shares of Allstate Corp. by 30.0% in the second quarter. Westpac Banking Corp now owns 386,466 shares of the company’s stock valued at $20,954,000 after buying an additional 89,172 shares during the last quarter. Taylor Asset Management Inc. boosted its stake in shares of Allstate Corp. by 0.3% in the second quarter. Taylor Asset Management Inc. now owns 421,600 shares of the company’s stock valued at $29,491,000 after buying an additional 1,200 shares during the last quarter. Standard Life Investments LTD boosted its stake in shares of Allstate Corp. by 556.2% in the second quarter. Standard Life Investments LTD now owns 3,243,360 shares of the company’s stock valued at $226,857,000 after buying an additional 2,749,105 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Allstate Corp. by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 6,355,789 shares of the company’s stock valued at $444,586,000 after buying an additional 811,752 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Allstate Corp. by 492.6% in the first quarter. Wellington Management Group LLP now owns 514,751 shares of the company’s stock valued at $34,680,000 after buying an additional 427,882 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.
About Allstate Corp.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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