Does Allstate Corp (ALL) Have More Gas After Touching 52-Week High?

June 19, 2017 - By reb123z

Investors sentiment increased to 0.97 in Q4 2016. Its up 0.11, from 0.86 in 2016Q3. It is positive, as 45 investors sold Allstate Corp shares while 276 reduced holdings. 93 funds opened positions while 219 raised stakes. 266.79 million shares or 0.98% less from 269.42 million shares in 2016Q3 were reported.
Investment Ptnrs Ltd Oh Adv owns 7,645 shares for 0.55% of their portfolio. Commerzbank Aktiengesellschaft Fi accumulated 14,573 shares. Ohio-based Fifth Third Natl Bank has invested 0.02% in Allstate Corp (NYSE:ALL). Natixis Asset has 868 shares for 0.01% of their portfolio. Sumitomo Mitsui Trust Inc stated it has 0.15% of its portfolio in Allstate Corp (NYSE:ALL). Ajo Ltd Partnership has invested 1.33% in Allstate Corp (NYSE:ALL). South State Corporation has invested 0.06% in Allstate Corp (NYSE:ALL). State Board Of Administration Of Florida Retirement System holds 594,819 shares. Amer Gru accumulated 0.05% or 173,807 shares. Hgk Asset Management reported 189,272 shares. Mark Sheptoff Fincl Planning Limited Liability Corp reported 0.05% in Allstate Corp (NYSE:ALL). Cornerstone Advsrs accumulated 443 shares. 613,610 were reported by Nationwide Fund Advsrs. Exchange Capital Inc holds 200 shares. Morgan Stanley stated it has 1.55 million shares or 0.04% of all its holdings.

Since January 3, 2017, it had 0 insider purchases, and 12 selling transactions for $24.74 million activity. Another trade for 33,806 shares valued at $2.88M was sold by Lees Susan L. Winter Matthew E sold $2.87 million worth of stock or 33,957 shares. Gupta Sanjay sold $1.44 million worth of stock. The insider PILCH SAMUEL H sold $719,858. TAYLOR MARY ALICE also sold $777,200 worth of Allstate Corp (NYSE:ALL) on Friday, February 3. Shebik Steven E also sold $2.86 million worth of Allstate Corp (NYSE:ALL) shares.

The stock of Allstate Corp (NYSE:ALL) hit a new 52-week high and has $92.61 target or 3.00 % above today’s $89.91 share price. The 5 months bullish chart indicates low risk for the $32.78 billion company. The 1-year high was reported on Jun, 19 by Barchart.com. If the $92.61 price target is reached, the company will be worth $983.40 million 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 82,936 shares traded. Allstate Corp (NYSE:ALL) has risen 25.87% since June 19, 2016 and is uptrending. It has outperformed by 9.17% the S&P500.

Wall Street await Allstate Corp (NYSE:ALL) to release earnings on August, 2. Analysts forecast earnings per share of $1.21, up exactly $0.59 or 95.16 % from 2014’s $0.62 EPS. The expected ALL’s profit could reach $441.15M giving the stock 18.58 P/E in the case that $1.21 earnings per share is reported. After posting $1.64 EPS for the previous quarter, Allstate Corp’s analysts now forecast -26.22 % negative EPS growth.

Allstate Corp (NYSE:ALL) Ratings Coverage

Among 16 analysts covering The Allstate Corporation (NYSE:ALL), 8 have Buy rating, 0 Sell and 8 Hold. Therefore 50% are positive. The Allstate Corporation had 26 analyst reports since August 4, 2015 according to SRatingsIntel. FBR Capital maintained Allstate Corp (NYSE:ALL) rating on Monday, April 3. FBR Capital has “Mkt Perform” rating and $82 target. On Thursday, October 15 the stock rating was initiated by Piper Jaffray with “Overweight”. The stock of Allstate Corp (NYSE:ALL) earned “Outperform” rating by Credit Suisse on Tuesday, November 3. Citigroup upgraded the shares of ALL in report on Tuesday, December 1 to “Neutral” rating. As per Wednesday, March 1, the company rating was downgraded by Keefe Bruyette & Woods. Deutsche Bank maintained the stock with “Buy” rating in Thursday, August 4 report. The company was upgraded on Friday, February 5 by Citigroup. On Wednesday, August 5 the stock rating was upgraded by Macquarie Research to “Neutral”. The stock of Allstate Corp (NYSE:ALL) has “Neutral” rating given on Wednesday, August 5 by Compass Point. Macquarie Research downgraded it to “Neutral” rating and $81 target in Wednesday, April 19 report.

The Allstate Corporation is a holding firm for Allstate Insurance Company. The company has market cap of $32.78 billion. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It has a 15.19 P/E ratio. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

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