Allstate Corp (NYSE:ALL):
Allstate Announces October 2017 Catastrophe Loss Estimate.
The company is trading down from yesterday’s close of 100.38.
The Allstate Corporation (Allstate), launched on November 5, 1992, is a holding company for Allstate Insurance Company. The Business’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. The Company is involved in the property-liability insurance business and the life insurance, retirement and investment products business. Its segments include Allstate Protection, Allstate Financial, Discontinued Lines and Coverages, and Corporate and Other. The Company offers its products in the United States and Canada..
Allstate Corp currently has a P/E ratio of 13.90 and the market value is 35.89B. As of the last earnings report the EPS was $7.20 with 358.83M shares currently outstanding.
Traders are feeling more bullish on shares of Allstate Corp lately looking at the motion in short interest. The company saw a fall in short interest from October 13, 2017 to October 31, 2017 of -5.72%. Short interest decreased 231,783 over that period. Days to cover decreased -1.0 to 2.0 and the percentage of shorted shares is 0.01% as of October 31.
A few Wall Street analysts have released ratings on the company. Equity analyst Credit Suisse Group raised the price target on November 2 boosting the projection from $91.00 to $95.00 with a “Neutral” recommendation. November 2 investment analysts at Wells Fargo & Company maintained a company rating of “Buy” targeting a price of $105.00.
On October 19, 2017 Wells Fargo & Company released a research note on ALL and giving a rating of “Buy” and establishing a price target of $105.00. Citigroup lowered the price target on October 2 changing the forecast from $107.00 to $106.00 and issued a “Buy” rating.
On September 11 analysts at Buckingham Research updated guidance on ALL with a rating of “Underperform”. August 17 investment analysts at Wells Fargo & Company maintained a “Buy” rating on the company.