Allstate Corporation (The) (NYSE:ALL) – Analysts at Langen Mcalenn lifted their FY2017 earnings per share (EPS) estimates for shares of Allstate Corporation (The) in a report issued on Friday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will earn $5.95 per share for the year, up from their previous estimate of $5.60. Langen Mcalenn also issued estimates for Allstate Corporation (The)’s Q3 2018 earnings at $1.25 EPS.

A number of other equities analysts also recently weighed in on ALL. Citigroup Inc. reduced their price target on Allstate Corporation (The) from $107.00 to $106.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company set a $105.00 price objective on Allstate Corporation (The) and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank AG cut Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Finally, UBS AG dropped their price objective on Allstate Corporation (The) from $94.00 to $93.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $91.62.

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Allstate Corporation (ALL) opened at 92.97 on Monday. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 13.73 and a beta of 1.08. The company’s 50-day moving average is $91.27 and its 200 day moving average is $88.40. Allstate Corporation has a 12 month low of $66.55 and a 12 month high of $95.25.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. raised its stake 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 valued at $108,000 after acquiring an additional 5 shares during the period. Parkside Financial Bank & Trust increased its position in Allstate Corporation (The) by 0.3% during 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 increased its position in Allstate Corporation (The) by 0.3% during 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 increased its position 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 worth $103,000 after buying an additional 28 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in Allstate Corporation (The) by 1.3% during 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. Institutional investors and hedge funds own 76.08% of the company’s stock.

In related news, President Matthew E. Winter sold 48,059 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $94.53, for a total value of $4,543,017.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Susan L. Lees sold 12,288 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the completion of the sale, the executive vice president now owns 73,511 shares in the company, valued at approximately $6,916,649.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,544 shares of company stock worth $9,017,568. 1.58% of the stock is owned by company insiders.

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

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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