Allstate Receives a Hold from B.Riley FBR

By Ryan Adsit

In a report released today, Randy Binner from B.Riley FBR reiterated a Hold rating on Allstate (NYSE: ALL), with a price target of $84. The company’s shares opened today at $97.08.

According to TipRanks.com, Binner is a 5-star analyst with an average return of 12.4% and a 64.3% success rate. Binner covers the Financial sector, focusing on stocks such as American Equity Investment Life, American International Group, and Health Insurance Innovations.

Currently, the analyst consensus on Allstate is Hold and the average price target is $92.33, representing a -4.9% downside.

In a report issued on April 1, KBW also upgraded the stock to Hold with a $93 price target.

The company has a one-year high of $105.36 and a one-year low of $79.09. Currently, Allstate has an average volume of 2.5M.

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 Corp. is a holding company, which engages in the property and casualty insurance business and the sale of life and accident and health insurance products through its subsidiaries. It operates through following segments: Allstate Protection, Service Businesses, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other. The Allstate Protection segment sells private passenger auto and homeowners insurance through agencies and directly through call centers and the internet. These products are marketed under the Allstate, Encompass, and Esurance brand names. The Service Businesses segment offers a range of products and services that expand and enhance customer value propositions including SquareTrade, Arity, Allstate Roadside, and Allstate Dealer Services. The Allstate Life segment provides traditional, interest-sensitive, and variable life insurance products through Allstate exclusive agencies and exclusive financial specialists. The Allstate Benefits segment offers voluntary benefits products, including life, accident, critical illness, short-term disability and other health products sold through workplace enrolling independent agents and Allstate exclusive agencies. The Allstate Annuities segment consists of deferred fixed annuities and immediate fixed annuities. The Discontinued Lines and Coverages segment includes results from property and casualty insurance coverage that primarily relates to policies written during the 1960s through the mid-1980s. The Corporate and Other segment comprises of the company’s activities and certain non-insurance operations. The company was founded on April 17, 1931 and is headquartered in Northbrook, IL.