Price Don’t Lie: Could Allstate Corp Lose its Strength? The Stock Reaches 52-Week High

Price Don't Lie: Could Allstate Corp Lose its Strength? The Stock Reaches 52 Week High

The stock of Allstate Corp (NYSE:ALL) hit a new 52-week high and has $76.21 target or 5.00% above today’s $72.58 share price. The 9 months bullish chart indicates low risk for the $26.82 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $76.21 price target is reached, the company will be worth $1.34B 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 796,400 shares traded hands. Allstate Corp (NYSE:ALL) has risen 7.86% since April 20, 2016 and is uptrending. It has outperformed by 3.30% 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. $78 is the highest target while $58 is the lowest. The $70.20 average target is -3.28% below today’s ($72.58) stock price. The Allstate Corporation has been the topic of 19 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Credit Suisse with “Outperform” on Tuesday, November 3. The stock of Allstate Corp (NYSE:ALL) earned “Neutral” rating by Compass Point on Wednesday, August 5. The firm has “Buy” rating by Citigroup given on Friday, February 5. The stock of Allstate Corp (NYSE:ALL) has “Hold” rating given on Monday, August 10 by Deutsche Bank. Goldman Sachs downgraded the stock to “Neutral” rating in Tuesday, August 4 report. Piper Jaffray initiated the stock with “Overweight” rating in Thursday, October 15 report. The stock of Allstate Corp (NYSE:ALL) earned “Sector Perform” rating by RBC Capital Markets on Friday, February 5. On Tuesday, August 4 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. The company was upgraded on Tuesday, December 1 by Citigroup. The rating was upgraded by Sandler O’Neill to “Buy” on Monday, September 21.

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 increased to 0.86 in Q2 2016. Its up 0.03, from 0.83 in 2016Q1. The ratio is positive, 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.
The Oklahoma-based Arvest State Bank Tru Division has invested 1.2% in Allstate Corp (NYSE:ALL). Moreover, Mu Invests Ltd has 0.1% invested in Allstate Corp (NYSE:ALL) for 2,250 shares. Alpha Windward Limited Liability Corp accumulated 0.15% or 2,927 shares. Exane Derivatives owns 2 shares or 0% of their US portfolio. Lowe Brockenbrough And Com Inc last reported 18,548 shares in the company. Axa has invested 0.01% of its portfolio in Allstate Corp (NYSE:ALL). Crestpoint Capital Management Ltd Liability Corp accumulated 6,000 shares or 0.22% of the stock. Moreover, Daiwa Gru has 0.02% invested in Allstate Corp (NYSE:ALL) for 45,630 shares. Legacy Private Tru Com has invested 0.04% of its portfolio in Allstate Corp (NYSE:ALL). Massmutual Trust Fsb Adv last reported 0% of its portfolio in the stock. Avenir last reported 23,995 shares in the company. Moreover, Pillar Pacific Cap Mngmt Ltd Company has 0.04% invested in Allstate Corp (NYSE:ALL) for 3,379 shares. American Group Incorporated Incorporated accumulated 176,926 shares or 0% of the stock. Benin Management holds 2.84% or 78,575 shares in its portfolio. Advisor Prns Ltd has 8,109 shares for 0.2% of their US portfolio.

Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 6 sales for $7.33 million net activity. 26,150 shares were sold by Winter Matthew E, worth $1.83M. Gupta Sanjay also sold $639,590 worth of Allstate Corp (NYSE:ALL) on Monday, July 11. 20,000 shares were sold by Shebik Steven E, worth $1.35M. On Friday, August 5 the insider Harty Harriet K sold $465,311. Another trade for 2,895 shares valued at $200,580 was made by Lees Susan L on Thursday, September 8.

Another recent and important Allstate Corp (NYSE:ALL) news was published by Prnewswire.com which published an article titled: “Allstate’s Good Hands Rescue® App Offers Roadside Help Deal on one of the …” on November 16, 2016.

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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