Investor’s Update: The Allstate Corporation (NYSE:ALL)

[Zacks] The Allstate Corporation (NYSE:ALL) may be an interesting play thanks to its forward PE of 12.2, its P/S ratio of 0.77, and its decent dividend yield of 1.8%. These factors suggest that Allstate is a pretty good value pick, as investors have to pay a relatively low level for each dollar of earnings, and that ALL has decent revenue metrics to back up its earnings.But before you think that Allstate is just a pure value play, it is important to note that it has been seeing solid activity on the earnings estimate front as well. For current year earnings, the consensus has gone up by 2.8% in the past 30days, thanks to 5 upward revisions in the past one month compared to none lower.Stock PerformanceTaking a look at the company’s recent performance, The Allstate Corporation (NYSE:ALL) reported second quarter earnings for fiscal year 2014 on July 30^th 2014. The company reported actual earnings per share of $1.01 against the consensus Street estimate of $0.86. This represents year over year decline of 10.89%. ALL posted revenue of $8.86 Billion against estimates of $7.58 million. ALL is currently valued at $26.36 billion and closed the last trading session at $61.16. The stock has a 50-day moving average of $61.35 and a 200-day moving average of $58.61.Is this a Buying Opportunity?There are currently fifteen analysts that we track that cover the stock. Of those fifteen, seven have Buy rating and eight have a hold rating. On a consensus basis this yields a score of 2.53 and a Buy. The combined price objective of these covering analysts is $64.43, which represents a 4.98% upside difference to the last closing price. The most recent analyst activity consisted of FBR Capital MarketsBoosted Price Target with market perform stance of the company. On the date of the report, the stock closed at $61.37. On the day of the report, ALL shares closed at $60.81. Another research firm weighing in recently was Zacks who reiterated rating their neutral Coverage on the stock. On September 30^th 2014 Zacks upgraded their price target on the stock $64.00 or a 4.29% upside to the current price. On the day of the report, ALL shares closed at $61.37.Company Profile The Allstate Corporation (NYSE:ALL), through its subsidiaries, provides personal property and casualty insurance, life insurance, and retirement and investment products primarily in the United States. The company’s Allstate Protection segment sells private auto and homeowner's insurance products under the Allstate, Encompass, Esurance brand names. It also provides specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products comprising renter, landlord, boat, umbrella, manufactured home insurance policies; roadside assistance products; and commercial products for small business owners, as well as insurance agency services. In addition, this segment participates in the involuntary or shared private passenger auto insurance business.