Wells Fargo & Co lowered shares of Allstate (NYSE:ALL) from an outperform rating to a market perform rating in a report released on Tuesday, Marketbeat Ratings reports.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Allstate from a hold rating to a buy rating and set a $114.00 price objective for the company in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods cut shares of Allstate from a market perform rating to an underperform rating in a research note on Tuesday, January 2nd. Goldman Sachs Group initiated coverage on shares of Allstate in a research note on Monday, December 4th. They issued a neutral rating and a $104.00 target price on the stock. B. Riley reiterated a neutral rating on shares of Allstate in a research note on Monday, November 6th. Finally, UBS Group increased their target price on shares of Allstate from $93.00 to $102.00 and gave the stock a neutral rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $96.43.

Allstate (ALL) traded down $0.51 on Tuesday, reaching $100.43. 2,463,500 shares of the company traded hands, compared to its average volume of 1,870,000. The company has a market cap of $36,040.00, a P/E ratio of 13.95, a PEG ratio of 1.62 and a beta of 1.12. Allstate has a 52 week low of $73.13 and a 52 week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.01). The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $1.26 earnings per share. equities analysts anticipate that Allstate will post 6.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 20.56%.

In other news, Chairman Thomas J. Wilson sold 195,000 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. Also, EVP Susan L. Lees sold 4,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $100.49, for a total transaction of $401,960.00. Following the sale, the executive vice president now owns 24,341 shares in the company, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 432,242 shares of company stock worth $42,827,931. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of ALL. Neuberger Berman Group LLC raised its position in shares of Allstate by 14.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 47,178 shares of the insurance provider’s stock valued at $4,172,000 after buying an additional 5,998 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Allstate by 41.7% during the 2nd quarter. Schroder Investment Management Group now owns 12,012 shares of the insurance provider’s stock valued at $1,059,000 after buying an additional 3,535 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Allstate during the 2nd quarter valued at $1,335,000. CIBC World Markets Inc. raised its position in Allstate by 48.3% in the 2nd quarter. CIBC World Markets Inc. now owns 27,017 shares of the insurance provider’s stock worth $2,389,000 after purchasing an additional 8,800 shares during the period. Finally, Franklin Resources Inc. raised its position in Allstate by 1.4% in the 2nd quarter. Franklin Resources Inc. now owns 140,029 shares of the insurance provider’s stock worth $12,384,000 after purchasing an additional 1,949 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://www.thecerbatgem.com/2018/01/10/allstate-all-downgraded-by-wells-fargo-co-to-market-perform.html.

About Allstate

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)

Receive News & Stock Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related stocks with our FREE daily email newsletter.