Allstate Corporation (The) (NYSE:ALL) – Research analysts at FBR & Co issued their Q3 2017 EPS estimates for shares of Allstate Corporation (The) in a research report issued to clients and investors on Tuesday. FBR & Co analyst R. Binner expects that the insurance provider will earn $0.50 per share for the quarter.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.48. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business had revenue of $8.02 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same period in the prior year, the business earned $0.62 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This story was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/12/allstate-corporation-the-all-expected-to-post-q3-2017-earnings-of-0-50-per-share.html.

Other equities research analysts also recently issued research reports about the stock. Barclays PLC cut their target price on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research report on Saturday, June 24th. UBS AG reaffirmed a “neutral” rating and issued a $94.00 target price (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 target price on shares of Allstate Corporation (The) in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $90.50.

Allstate Corporation (ALL) opened at 93.09 on Thursday. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25. The firm has a market capitalization of $33.64 billion, a P/E ratio of 13.75 and a beta of 1.08. The company’s 50-day moving average price is $91.07 and its 200-day moving average price is $87.90.

Allstate Corporation (The) declared that its Board of Directors has authorized a stock repurchase program on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to buy up to 63% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In related news, CFO Steven E. Shebik sold 35,197 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the transaction, the chief financial officer now owns 127,560 shares of the company’s stock, valued at approximately $12,026,356.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Matthew E. Winter sold 48,058 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.54, for a total transaction of $4,255,055.32. The disclosure for this sale can be found here. Insiders sold a total of 143,602 shares of company stock valued at $13,272,624 in the last ninety days. 1.58% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. boosted its holdings in Allstate Corporation (The) by 0.4% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock worth $108,000 after buying an additional 5 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Allstate Corporation (The) by 0.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,082 shares of the insurance provider’s stock worth $273,000 after buying an additional 9 shares during the period. Brighton Jones LLC boosted its holdings in Allstate Corporation (The) by 0.3% in the 2nd quarter. Brighton Jones LLC now owns 3,313 shares of the insurance provider’s stock worth $293,000 after buying an additional 10 shares during the period. Sandy Spring Bank boosted its holdings in Allstate Corporation (The) by 2.5% in the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after buying an additional 28 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in Allstate Corporation (The) by 1.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock worth $219,000 after buying an additional 35 shares during the period. 76.12% of the stock is owned by institutional investors.

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.

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

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