Allstate (ALL) Raised to Market Perform at Keefe, Bruyette & Woods

Allstate (NYSE:ALL) was upgraded by research analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, The Fly reports.

ALL has been the topic of several other reports. Argus restated a “buy” rating and set a $110.00 price target on shares of Allstate in a research report on Wednesday, February 21st. Wells Fargo lowered Allstate from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. Morgan Stanley restated an “equal weight” rating and set a $105.00 price target (down from $113.00) on shares of Allstate in a research report on Wednesday, February 21st. Deutsche Bank reduced their price target on Allstate from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, February 9th. Finally, ValuEngine upgraded Allstate from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Allstate presently has a consensus rating of “Hold” and a consensus price target of $99.06.

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ALL opened at $94.80 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.25 and a current ratio of 0.25. Allstate has a 1 year low of $79.09 and a 1 year high of $105.36. The company has a market cap of $33,602.63, a P/E ratio of 14.13, a P/E/G ratio of 1.37 and a beta of 0.94.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.56. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company earned $2.17 EPS. Allstate’s revenue for the quarter was up 3.8% compared to the same quarter last year. research analysts forecast that Allstate will post 8.32 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Allstate by 3.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 54,205 shares of the insurance provider’s stock valued at $5,676,000 after purchasing an additional 1,699 shares during the period. Wagner Wealth Management LLC purchased a new position in shares of Allstate in the 4th quarter valued at approximately $894,000. Xact Kapitalforvaltning AB lifted its stake in shares of Allstate by 8.1% in the 4th quarter. Xact Kapitalforvaltning AB now owns 52,346 shares of the insurance provider’s stock valued at $5,481,000 after purchasing an additional 3,912 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Allstate by 929.2% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 89,126 shares of the insurance provider’s stock valued at $6,364,000 after purchasing an additional 80,466 shares during the period. Finally, CNB Bank purchased a new position in shares of Allstate in the 4th quarter valued at approximately $429,000. Institutional investors and hedge funds own 75.87% of the company’s stock.

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About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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