Wells Fargo Keeps a Sell Rating on Allstate (ALL)

Wells Fargo analyst Elyse Greenspan reiterated a Sell rating on Allstate (ALLResearch Report) yesterday and set a price target of $110.00. The company’s shares closed last Wednesday at $122.34.

According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 10.7% and a 56.9% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and W. R. Berkley Corporation.

Currently, the analyst consensus on Allstate is a Moderate Buy with an average price target of $145.89.

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Based on Allstate’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.34 billion and net profit of $656 million. In comparison, last year the company earned revenue of $12.45 billion and had a GAAP net loss of $1.38 billion.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Allstate Corporation is an insurance company which offers property & casualty (P&C), and other insurance products in the United States and Canada. The company is the third-largest P&C insurer and the largest publicly-held personal lines carrier in the United States. It also provides a range of life insurance and investment products.

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