Allstate’s (ALL) Sell Rating Reiterated at Wells Fargo & Company

Allstate (NYSE:ALLGet Rating)‘s stock had its “sell” rating reaffirmed by equities research analysts at Wells Fargo & Company in a note issued to investors on Friday, TipRanks reports. They currently have a $120.00 target price on the insurance provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 4.12% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley decreased their price target on shares of Allstate from $152.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. Citigroup began coverage on shares of Allstate in a research report on Monday, May 23rd. They set a “buy” rating and a $159.00 price objective for the company. Barclays increased their target price on shares of Allstate from $119.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Argus lowered shares of Allstate from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Finally, UBS Group raised shares of Allstate from a “neutral” rating to a “buy” rating and raised their price objective for the company from $126.00 to $149.00 in a research note on Monday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Hold” and an average target price of $142.36.

ALL stock traded down $2.70 during midday trading on Friday, hitting $125.16. The company’s stock had a trading volume of 14,752 shares, compared to its average volume of 1,674,304. The stock has a market capitalization of $34.42 billion, a P/E ratio of 10.48, a PEG ratio of 2.64 and a beta of 0.82. The company’s fifty day moving average price is $133.45 and its 200 day moving average price is $125.74. Allstate has a twelve month low of $106.11 and a twelve month high of $144.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALLGet Rating) last announced its earnings results on Wednesday, May 4th. The insurance provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.21). The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $11.14 billion. Allstate had a return on equity of 12.50% and a net margin of 7.20%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.11 EPS. Equities analysts expect that Allstate will post 9.14 EPS for the current fiscal year.

In related news, CEO Thomas J. Wilson sold 142,000 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $133.39, for a total value of $18,941,380.00. Following the completion of the sale, the chief executive officer now directly owns 99,828 shares in the company, valued at $13,316,056.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.77% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new position in Allstate in the fourth quarter valued at about $29,000. Cowa LLC acquired a new position in Allstate in the first quarter valued at approximately $30,000. US Asset Management LLC purchased a new stake in shares of Allstate in the first quarter valued at approximately $32,000. MCF Advisors LLC purchased a new stake in shares of Allstate in the first quarter valued at approximately $34,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Allstate in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

Allstate Company Profile (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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