Wall Street brokerages predict that Allstate Corporation (The) (NYSE:ALL) will report earnings of $0.68 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Allstate Corporation (The)’s earnings, with estimates ranging from $0.58 to $0.75. Allstate Corporation (The) posted earnings of $1.26 per share in the same quarter last year, which suggests a negative year over year growth rate of 46%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Allstate Corporation (The) will report full year earnings of $5.71 per share for the current financial year, with EPS estimates ranging from $5.60 to $5.76. For the next fiscal year, analysts expect that the business will report earnings of $7.02 per share, with EPS estimates ranging from $5.98 to $7.50. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Allstate Corporation (The).

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

ALL has been the subject of a number of analyst reports. Barclays PLC increased their price target on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Citigroup Inc. increased 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. Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and increased their price target for the company from $90.00 to $96.00 in a report on Tuesday, August 8th. Morgan Stanley reaffirmed 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, BidaskClub downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Allstate Corporation (The) presently has a consensus rating of “Hold” and an average price target of $90.50.

In other news, CFO Steven E. Shebik sold 35,197 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the transaction, the chief financial officer now directly owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Matthew E. Winter sold 48,058 shares of the firm’s stock in a transaction that occurred 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. Over the last ninety days, insiders have sold 143,602 shares of company stock worth $13,272,624. Corporate insiders own 1.58% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALL. BlackRock Inc. boosted its stake in shares of Allstate Corporation (The) by 2,743.3% during the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after purchasing an additional 25,527,763 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Allstate Corporation (The) by 4,753.8% during the second quarter. Janus Henderson Group PLC now owns 2,296,651 shares of the insurance provider’s stock valued at $203,116,000 after purchasing an additional 2,249,334 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Allstate Corporation (The) by 246.3% during the first quarter. Victory Capital Management Inc. now owns 2,080,446 shares of the insurance provider’s stock valued at $169,536,000 after purchasing an additional 1,479,694 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Allstate Corporation (The) by 249.1% during the second quarter. Principal Financial Group Inc. now owns 1,827,612 shares of the insurance provider’s stock valued at $161,634,000 after purchasing an additional 1,304,131 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Allstate Corporation (The) by 480.2% during the second quarter. Voya Investment Management LLC now owns 1,496,235 shares of the insurance provider’s stock valued at $132,328,000 after purchasing an additional 1,238,341 shares in the last quarter. Hedge funds and other institutional investors own 76.12% of the company’s stock.

Allstate Corporation (NYSE ALL) opened at 93.09 on Thursday. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $95.25. The stock has a 50 day moving average price of $91.07 and a 200 day moving average price of $87.90. The stock has a market cap of $33.64 billion, a P/E ratio of 13.75 and a beta of 1.08.

Allstate Corporation (The) declared that its Board of Directors has approved a share buyback program on Tuesday, August 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 63% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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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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