Raymond James analyst Charles Peters maintained a Buy rating on Allstate (ALL) yesterday. The company’s shares closed last Wednesday at $109.00.
According to TipRanks.com, Peters is a 4-star analyst with an average return of 9.1% and a 67.1% success rate. Peters covers the Financial sector, focusing on stocks such as Argo Group International Holdings, American Equity Investment Life, and Hallmark Financial Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allstate with a $128.71 average price target, implying a 17.1% upside from current levels. In a report issued on January 28, Barclays also maintained a Buy rating on the stock with a $125.00 price target.
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Based on Allstate’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $11.5 billion and net profit of $1.15 billion. In comparison, last year the company earned revenue of $11.07 billion and had a net profit of $931 million.
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The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business 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 gives 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.
