Allstate (NYSE:ALL) Cut to “Neutral” at Credit Suisse Group

Allstate (NYSE:ALL) was downgraded by investment analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, April 8th, Marketbeat.com reports. They presently have a $93.00 price objective on the insurance provider’s stock. Credit Suisse Group’s target price suggests a potential downside of 5.66% from the stock’s current price.

ALL has been the topic of several other research reports. ValuEngine cut shares of Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Wells Fargo & Co set a $100.00 target price on shares of Allstate and gave the company a “hold” rating in a report on Thursday, December 13th. Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, January 8th. Edward Jones raised shares of Allstate from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. Finally, Compass Point initiated coverage on shares of Allstate in a report on Tuesday, January 15th. They set a “buy” rating and a $114.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $101.50.

NYSE:ALL traded up $0.29 during mid-day trading on Monday, hitting $98.58. The stock had a trading volume of 1,763,931 shares, compared to its average volume of 2,098,706. The stock has a market cap of $32.82 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.34 and a beta of 0.83. Allstate has a twelve month low of $77.00 and a twelve month high of $102.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.02. The firm had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Allstate had a net margin of 5.66% and a return on equity of 14.00%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.96 earnings per share. On average, equities analysts anticipate that Allstate will post 8.9 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. OLD National Bancorp IN grew its position in Allstate by 14.6% in the 1st quarter. OLD National Bancorp IN now owns 12,985 shares of the insurance provider’s stock valued at $1,223,000 after buying an additional 1,656 shares during the last quarter. TAP Consulting LLC purchased a new position in Allstate in the 1st quarter valued at $283,000. Stephens Inc. AR grew its position in Allstate by 36.6% in the 1st quarter. Stephens Inc. AR now owns 14,145 shares of the insurance provider’s stock valued at $1,332,000 after buying an additional 3,793 shares during the last quarter. South Dakota Investment Council grew its position in Allstate by 6.9% in the 1st quarter. South Dakota Investment Council now owns 31,100 shares of the insurance provider’s stock valued at $2,929,000 after buying an additional 2,000 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Allstate by 13.4% in the 1st quarter. California Public Employees Retirement System now owns 2,406,590 shares of the insurance provider’s stock valued at $226,653,000 after buying an additional 283,541 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits 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 insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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