In a report released today, Elyse Greenspan from Wells Fargo maintained a Hold rating on Allstate (ALL), with a price target of $100. The company’s shares opened today at $82.18, close to its 52-week low of $81.45.
Greenspan commented:
“We are now assuming $960 million of Q4 cat losses (up from the prior $852 million) to include the previewed $887 million pre-tax and $73 million for December. To- date there is only one cat event in December, per PCS. $ 2017A 2018E 2019E EPS Curr. Prior Curr. Prior Q1 (Mar.) 1.64 2.96 A NC 2.86 NC Q2 (June) 1.38 1.90 A NC 1.78 NC Q3 (Sep.) 1.60 1.93 A NC 2.18 NC Q4 (Dec.) 2.09 1.12 1.62 2.88 NC FY 6.71 7.95 8.44 9.70 NC CY 6.71 7.95 9.70 FY P/EPS 12.3x 10.4x 8.5x Rev.(MM) 31,648 33,254 34,102 Company Data, Wells Fargo Securities, LLC estimates, and Reuters NA = Not Available, NC = No Change, NE = No Estimate, NM = Not Meaningful V = Volatile Ticker ALL Outstanding: (MM) 345.0 Market Cap.: (MM) $28,428.0 S&P 500: 2,651.07 Avg.”
According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 1.1% and a 50.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.
Currently, the analyst consensus on Allstate is a Moderate Buy with an average price target of $106.88, representing a 30.1% upside. In a report issued on December 11, Edward Jones also upgraded the stock to Hold.
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The company has a one-year high of $105.36 and a one-year low of $81.45. Currently, Allstate has an average volume of 1.93M.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2018, Harriet Harty, an Insider at ALL sold 10,515 shares for a total of $1,039,618.
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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.
