Live Price Coverage: Is Buying 52-Week Stock Like Allstate Corp a Winning Strategy?

Live Price Coverage: Is Buying 52 Week Stock Like Allstate Corp a Winning Strategy?

The stock of Allstate Corp (NYSE:ALL) hit a new 52-week high and has $101.00 target or 41.00% above today’s $71.63 share price. The 9 months bullish chart indicates low risk for the $26.39 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $101.00 price target is reached, the company will be worth $10.82B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 746,653 shares traded hands. Allstate Corp (NYSE:ALL) has risen 6.19% since April 15, 2016 and is uptrending. It has outperformed by 1.56% the S&P500.

Allstate Corp (NYSE:ALL) Ratings Coverage

Out of 13 analysts covering The Allstate Corporation (NYSE:ALL), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. The Allstate Corporation has been the topic of 19 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Tuesday, January 19 by Macquarie Research. The stock of Allstate Corp (NYSE:ALL) has “Neutral” rating given on Tuesday, December 1 by Citigroup. On Wednesday, August 5 the stock rating was upgraded by Macquarie Research to “Neutral”. Deutsche Bank upgraded the shares of ALL in a report on Monday, August 10 to “Hold” rating. Citigroup upgraded Allstate Corp (NYSE:ALL) rating on Friday, February 5. Citigroup has “Buy” rating and $72 price target. Credit Suisse maintained Allstate Corp (NYSE:ALL) rating on Tuesday, November 3. Credit Suisse has “Outperform” rating and $74 price target. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, February 5. Compass Point maintained Allstate Corp (NYSE:ALL) rating on Wednesday, August 5. Compass Point has “Neutral” rating and $66 price target. The stock of Allstate Corp (NYSE:ALL) has “Sector Perform” rating given on Tuesday, August 4 by RBC Capital Markets. On Thursday, August 4 the stock rating was maintained by Deutsche Bank with “Buy”.

According to Zacks Investment Research, “Allstate Corporation’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and their subsidiaries. Allstate is engaged, principally in the United States and Canada, in the personal property and casualty insurance business and the life insurance and savings business. Allstate has four business segments: personal property and casualty; life and savings; discontinued lines and coverages; and corporate and other business.”

Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 0.06, from 0.89 in 2016Q1. The ratio is negative, as 60 funds sold all Allstate Corp shares owned while 278 reduced positions. 42 funds bought stakes while 238 increased positions. They now own 271.38 million shares or 4.20% less from 283.28 million shares in 2016Q1.
Fulton Financial Bank Na holds 12,241 shares or 0.08% of its portfolio. Ledyard Bank last reported 0.01% of its portfolio in the stock. Whittier Of Nevada accumulated 0.01% or 1,715 shares. Richard Bernstein Advsr Limited Liability holds 0.23% or 34,959 shares in its portfolio. Rockefeller Fin Services Incorporated, a New York-based fund reported 100 shares. Btc Cap Mgmt reported 45,805 shares or 0.69% of all its holdings. State Board Of Administration Of Florida Retirement System holds 0.13% or 592,425 shares in its portfolio. Cutler Investment Counsel Limited Liability Corporation accumulated 0.1% or 5,000 shares. Commerzbank Aktiengesellschaft Fi accumulated 0.01% or 11,027 shares. M&T Bancorp Corporation has invested 0.04% of its portfolio in Allstate Corp (NYSE:ALL). Everence Cap Mgmt holds 0.19% of its portfolio in Allstate Corp (NYSE:ALL) for 8,739 shares. Barrett Asset Lc last reported 1,421 shares in the company. Beck Mack & Oliver Lc has 0.01% invested in the company for 5,008 shares. State Of Alaska Department Of Revenue holds 0.42% of its portfolio in Allstate Corp (NYSE:ALL) for 58,243 shares. British Columbia Investment Mngmt reported 237,739 shares or 0.15% of all its holdings.

Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 6 selling transactions for $7.33 million net activity. Shares for $639,590 were sold by Gupta Sanjay. Shebik Steven E also sold $2.85 million worth of Allstate Corp (NYSE:ALL) on Monday, August 8. Harty Harriet K also sold $465,311 worth of Allstate Corp (NYSE:ALL) shares. Lees Susan L sold 2,895 shares worth $200,580. Another trade for 26,150 shares valued at $1.83M was sold by Winter Matthew E.

More news for Allstate Corp (NYSE:ALL) were recently published by: Forbes.com, which released: “Allstate’s Preferred Stock, Series A Shares Cross 5.5% Yield Mark” on November 09, 2016. Nasdaq.com‘s article titled: “The Allstate Corp Q3 Profit Drops 21%” and published on November 02, 2016 is yet another important article.

ALL Company Profile

The Allstate Corporation, incorporated on November 5, 1992, is a holding firm for Allstate Insurance Company. The Firm and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business. It offers its products in the United States and Canada. Allstate operates in four business divisions: Allstate Protection, Discontinued Lines and Coverages, Allstate Financial, and Corporate and Other. The Company’s principal geographic markets for auto, homeowners, and other personal property and casualty products are in the United States. Through its subsidiaries, it sells a range of personal property and casualty insurance products in approximately 50 states, the District of Columbia and Puerto Rico. It also sells personal property and casualty insurance products in Canada.

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