Allstate Corporation (The) (ALL) Receiving Somewhat Favorable Press Coverage, Report Shows

Press coverage about Allstate Corporation (The) (NYSE:ALL) has been trending somewhat positive on Monday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Allstate Corporation (The) earned a media sentiment score of 0.15 on Accern’s scale. Accern also gave headlines about the insurance provider an impact score of 46.1578929104073 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

These are some of the news headlines that may have impacted Accern Sentiment’s scoring:

Several research firms have recently commented on ALL. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a research note on Tuesday, August 1st. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 price objective (up previously from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. UBS AG reiterated a “neutral” rating and issued a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG cut Allstate Corporation (The) from a “buy” rating to a “hold” rating and increased their price objective for the stock from $90.00 to $96.00 in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $91.62.

Shares of Allstate Corporation (NYSE ALL) opened at 93.73 on Monday. The company’s 50 day moving average price is $91.99 and its 200-day moving average price is $88.83. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The firm has a market cap of $33.87 billion, a price-to-earnings ratio of 13.84 and a beta of 1.08.

Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. Equities analysts expect that Allstate Corporation will post $5.83 EPS for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 63% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

In other news, EVP Susan L. Lees sold 12,288 shares of Allstate Corporation (The) stock in a transaction on Friday, August 4th. The stock was sold at an average price of $94.09, for a total transaction of $1,156,177.92. Following the transaction, the executive vice president now owns 73,511 shares in the company, valued at $6,916,649.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew E. Winter sold 48,059 shares of Allstate Corporation (The) stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The disclosure for this sale can be found here. Insiders have sold 95,544 shares of company stock worth $9,017,568 in the last quarter. 1.58% of the stock is currently owned by corporate insiders.

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About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

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