3 Stocks Pushing The Insurance Industry Lower
1. As of noon trading, Allstate ( ALL) is down $0.28 (-0.7%) to $39.80 on light volume Thus far, 1.1 million shares of Allstate exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $39.70-$40.24 after having opened the day at $40.16 as compared to the previous trading day's close of $40.08. The Allstate Corporation, through its subsidiaries, engages in the personal property and casualty insurance, life insurance, and retirement and investment products business primarily in the United States. Allstate has a market cap of $19.1 billion and is part of the financial sector. The company has a P/E ratio of 7.6, below the S&P 500 P/E ratio of 17.7. Shares are up 44.8% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Allstate a buy, no analysts rate it a sell, and 13 rate it a hold. TheStreet Ratings rates Allstate as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Allstate Ratings Report now. Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the insurance industry could consider KBW Insurance ETF ( KIE) while those bearish on the insurance industry could consider Proshares Short Financials ( SEF). A reminder about TheStreet Ratings group: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.
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