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Wells Fargo Reaffirms Their Sell Rating on Allstate (ALL)

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In a report released today, Elyse Greenspan from Wells Fargo maintained a Sell rating on Allstate (ALLResearch Report), with a price target of $105.00. The company’s shares closed last Thursday at $122.36.

According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 11.9% and a 66.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Arthur J Gallagher & Co.

Allstate has an analyst consensus of Hold, with a price target consensus of $131.30.

See today’s best-performing stocks on TipRanks >>

Based on Allstate’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $13.01 billion and net profit of $817 million. In comparison, last year the company earned revenue of $13.84 billion and had a net profit of $2.62 billion.

Based on the recent corporate insider activity of 65 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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