The Allstate Corporation (ALL) Draws Bearish Attention After Forming Double Bottom

August 10, 2018 - By Ash Maslow

The Allstate Corporation (NYSE:ALL) Logo

Investors sentiment decreased to 0.81 in Q1 2018. Its down 0.15, from 0.96 in 2017Q4. It fall, as 62 investors sold The Allstate Corporation shares while 314 reduced holdings. 78 funds opened positions while 228 raised stakes. 260.00 million shares or 2.34% less from 266.22 million shares in 2017Q4 were reported.
Trust Of Vermont has invested 0.13% in The Allstate Corporation (NYSE:ALL). Parallax Volatility Advisers Limited Partnership has invested 0% in The Allstate Corporation (NYSE:ALL). Aviva Plc invested in 181,086 shares or 0.1% of the stock. Clarivest Asset Management Ltd has 1,360 shares for 0% of their portfolio. Mitsubishi Ufj Trust And invested in 0.13% or 790,268 shares. South Dakota-based South Dakota Invest Council has invested 0.06% in The Allstate Corporation (NYSE:ALL). Ameritas Investment Ptnrs accumulated 7,550 shares. Martingale Asset L P has 502,432 shares. Hirtle Callaghan Commerce Llc has invested 0.04% in The Allstate Corporation (NYSE:ALL). Waters Parkerson Limited Com reported 2,622 shares. Daiwa Sb Investments Limited has 1,090 shares. Jane Street Group Inc has 96,904 shares for 0.02% of their portfolio. Srb Corp, Massachusetts-based fund reported 2,238 shares. First Midwest Comml Bank Division accumulated 9,540 shares. Blair William And Il holds 0.02% of its portfolio in The Allstate Corporation (NYSE:ALL) for 24,148 shares.

The chart of The Allstate Corporation (ALL) shows a double bottom with $90.79 target or 8.00 % below today’s $98.68 share price. The 9 months chart pattern indicates high risk for the $34.17 billion company. It was reported on Aug, 10 by Finviz.com. If the $90.79 price target is reached, the company will be worth $2.73B less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.80% or $0.8 during the last trading session, reaching $98.68. About 69,958 shares traded. The Allstate Corporation (NYSE:ALL) has risen 10.63% since August 10, 2017 and is uptrending. It has underperformed by 1.94% the S&P500.

Analysts await The Allstate Corporation (NYSE:ALL) to report earnings on November, 7. They expect $2.08 EPS, up 30.00 % or $0.48 from last year’s $1.6 per share. ALL’s profit will be $720.16M for 11.86 P/E if the $2.08 EPS becomes a reality. After $1.90 actual EPS reported by The Allstate Corporation for the previous quarter, Wall Street now forecasts 9.47 % EPS growth.

The Allstate Corporation (NYSE:ALL) Ratings Coverage

Among 7 analysts covering Allstate (NYSE:ALL), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Allstate had 14 analyst reports since February 14, 2018 according to SRatingsIntel. As per Wednesday, February 14, the company rating was maintained by Keefe Bruyette & Woods. Citigroup maintained the shares of ALL in report on Tuesday, March 27 with “Buy” rating. The stock of The Allstate Corporation (NYSE:ALL) has “Neutral” rating given on Monday, July 16 by FBR Capital. The firm has “Hold” rating by Keefe Bruyette & Woods given on Sunday, April 1. The stock has “Neutral” rating by Buckingham Research on Wednesday, July 18. The company was maintained on Monday, April 16 by FBR Capital. Argus Research maintained The Allstate Corporation (NYSE:ALL) on Wednesday, May 9 with “Buy” rating. Citigroup maintained the shares of ALL in report on Tuesday, April 10 with “Buy” rating. The stock has “Neutral” rating by FBR Capital on Tuesday, August 7. The company was maintained on Friday, July 20 by Citigroup.

More news for The Allstate Corporation (NYSE:ALL) were recently published by: Benzinga.com, which released: “Buckingham Upgrades Allstate But Remains Cautious” on July 18, 2018. Ft.com‘s article titled: “NYSE Arca equities market faces brief ‘technical’ hiccup” and published on July 25, 2018 is yet another important article.

The Allstate Corporation, together with its subsidiaries, engages in property-liability insurance and life insurance business in the United States and Canada. The company has market cap of $34.17 billion. The companyÂ’s Allstate Protection segment sells private passenger auto, homeowners, and other property-liability insurance products under the Allstate, Esurance, and Encompass brand names. It has a 10.37 P/E ratio. It also offers specialty auto products including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; commercial lines products for small business owners; roadside assistance products; service contracts; and other products sold in conjunction with auto lending and vehicle sales transactions.

The Allstate Corporation (NYSE:ALL) Institutional Positions Chart

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