Allstate Corp (NYSE:ALL) – Investment analysts at Langen Mcalenn raised their FY2018 EPS estimates for Allstate in a research note issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will earn $8.00 per share for the year, up from their previous forecast of $7.20.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.01). The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. Allstate’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 EPS.
A number of other research analysts also recently issued reports on ALL. Citigroup cut their price objective on Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. Zacks Investment Research downgraded Allstate from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Wells Fargo & Co set a $105.00 price objective on Allstate and gave the company a “buy” rating in a research note on Thursday, October 19th. Credit Suisse Group boosted their price objective on Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 2nd. Finally, UBS Group boosted their price objective on Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $96.43.
Shares of Allstate (NYSE:ALL) traded down $0.30 during trading hours on Thursday, hitting $103.70. The company had a trading volume of 1,548,986 shares, compared to its average volume of 2,199,077. The company has a market cap of $37,210.00, a P/E ratio of 14.40, a PEG ratio of 1.55 and a beta of 1.12. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate has a 52 week low of $73.96 and a 52 week high of $105.36.
Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board raised its holdings in shares of Allstate by 3.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 491,833 shares of the insurance provider’s stock worth $45,204,000 after acquiring an additional 14,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Allstate by 2.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,160 shares of the insurance provider’s stock worth $7,860,000 after acquiring an additional 1,700 shares in the last quarter. Aperio Group LLC raised its holdings in shares of Allstate by 16.4% during the 3rd quarter. Aperio Group LLC now owns 410,026 shares of the insurance provider’s stock worth $37,685,000 after acquiring an additional 57,713 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Allstate by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 137,390 shares of the insurance provider’s stock worth $12,627,000 after acquiring an additional 13,713 shares in the last quarter. Finally, BT Investment Management Ltd raised its holdings in shares of Allstate by 2.5% during the 3rd quarter. BT Investment Management Ltd now owns 215,126 shares of the insurance provider’s stock worth $19,800,000 after acquiring an additional 5,268 shares in the last quarter. 76.56% of the stock is currently owned by institutional investors and hedge funds.
In other Allstate news, CEO Thomas J. Wilson sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $99.29, for a total value of $12,907,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan L. Lees sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the transaction, the executive vice president now owns 24,341 shares of the company’s stock, valued at $2,446,027.09. The disclosure for this sale can be found here. Insiders sold a total of 432,242 shares of company stock valued at $42,827,931 over the last 90 days. 1.58% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.48 annualized dividend and a yield of 1.43%. Allstate’s payout ratio is 20.56%.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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