Wells Fargo Remains a Hold on Allstate (ALL)

In a report released on May 22, Elyse Greenspan from Wells Fargo maintained a Hold rating on Allstate, with a price target of $243.00. The company’s shares closed last Friday at $216.60.

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According to TipRanks, Greenspan is a 4-star analyst with an average return of 6.1% and a 56.00% success rate. Greenspan covers the Financial sector, focusing on stocks such as Progressive, Arthur J Gallagher & Co, and Aon.

In addition to Wells Fargo, Allstate also received a Hold from Morgan Stanley’s Bob Huang in a report issued on May 11. However, on May 22, Barclays maintained a Sell rating on Allstate (NYSE: ALL).

Based on Allstate’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $16.94 billion and a net profit of $2.46 billion. In comparison, last year the company earned a revenue of $16.26 billion and had a net profit of $595 million

Based on the recent corporate insider activity of 94 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. Earlier this month, Mario Rizzo, an Insider at ALL sold 18,578.00 shares for a total of $4,064,866.40.