Wells Fargo Reaffirms Their Hold Rating on Allstate

In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Hold rating on Allstate (NYSE: ALL), with a price target of $100. The company’s shares closed yesterday at $98.20.

According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 4.7% and a 54.3% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Renaissancere Holdings Ltd, and Marsh & Mclennan Companies.

Currently, the analyst consensus on Allstate is Hold and the average price target is $92.33, representing a -6.0% downside.

In a report issued on April 16, B.Riley FBR also reiterated a Hold rating on the stock with a $84 price target.

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Allstate’s market cap is currently $34.86B and has a P/E ratio of 11.73. The company has a book value ratio of 1.6756.

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The Allstate Corp. is a holding company, which engages in the property and casualty insurance business and the sale of life and accident and health insurance products through its subsidiaries. It operates through following segments: Allstate Protection, Service Businesses, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other. The Allstate Protection segment sells private passenger auto and homeowners insurance through agencies and directly through call centers and the internet. These products are marketed under the Allstate, Encompass, and Esurance brand names. The Service Businesses segment offers a range of products and services that expand and enhance customer value propositions including SquareTrade, Arity, Allstate Roadside, and Allstate Dealer Services. The Allstate Life segment provides traditional, interest-sensitive, and variable life insurance products through Allstate exclusive agencies and exclusive financial specialists. The Allstate Benefits segment offers voluntary benefits products, including life, accident, critical illness, short-term disability and other health products sold through workplace enrolling independent agents and Allstate exclusive agencies. The Allstate Annuities segment consists of deferred fixed annuities and immediate fixed annuities. The Discontinued Lines and Coverages segment includes results from property and casualty insurance coverage that primarily relates to policies written during the 1960s through the mid-1980s. The Corporate and Other segment comprises of the company’s activities and certain non-insurance operations. The company was founded on April 17, 1931 and is headquartered in Northbrook, IL.