Wall Street brokerages expect Allstate Corporation (The) (NYSE:ALL) to announce $8.37 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Allstate Corporation (The)’s earnings. The highest sales estimate is $8.40 billion and the lowest is $8.32 billion. Allstate Corporation (The) reported sales of $9.19 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.9%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Allstate Corporation (The) will report full year sales of $8.37 billion for the current fiscal year, with estimates ranging from $33.39 billion to $37.92 billion. For the next fiscal year, analysts expect that the business will post sales of $35.52 billion per share, with estimates ranging from $34.35 billion to $38.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Allstate Corporation (The).

Allstate Corporation (The) (NYSE:ALL) last announced its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The business had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis.

ALL has been the subject of several recent research reports. Wells Fargo & Co restated a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. Citigroup Inc. boosted their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 13th. BidaskClub lowered shares of Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $91.00 price target (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $88.00 price target on shares of Allstate Corporation (The) in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Allstate Corporation (The) has an average rating of “Hold” and a consensus target price of $90.31.

In other Allstate Corporation (The) news, President Matthew E. Winter sold 48,059 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total transaction of $4,543,017.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Harriet K. Harty sold 7,228 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $88.35, for a total transaction of $638,593.80. Following the transaction, the insider now owns 18,260 shares in the company, valued at approximately $1,613,271. The disclosure for this sale can be found here. Insiders have sold a total of 150,830 shares of company stock worth $13,911,217 in the last 90 days. 1.58% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Sandy Spring Bank increased its stake in Allstate Corporation (The) by 2.5% during the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 28 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in Allstate Corporation (The) by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 5 shares in the last quarter. IHT Wealth Management LLC increased its stake in Allstate Corporation (The) by 46.6% during the 2nd quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 405 shares in the last quarter. FNY Partners Fund LP acquired a new position in Allstate Corporation (The) during the 1st quarter valued at approximately $122,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Allstate Corporation (The) by 8.5% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 76.13% of the company’s stock.

Shares of Allstate Corporation (ALL) opened at 90.53 on Monday. The stock has a market cap of $32.71 billion, a PE ratio of 13.37 and a beta of 1.09. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $95.25. The stock’s 50 day moving average is $91.89 and its 200-day moving average is $86.77.

Allstate Corporation (The) declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 63% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. Allstate Corporation (The)’s payout ratio is 21.86%.

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Allstate Corporation (The) Company Profile

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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Earnings History and Estimates for Allstate Corporation (The) (NYSE:ALL)

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