Allstate Corp (ALL) Forecasted to Post FY2018 Earnings of $8.00 Per Share
Allstate Corp (NYSE:ALL) – Equities researchers at Langen Mcalenn boosted their FY2018 earnings estimates for shares of Allstate in a research report issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will earn $8.00 per share for the year, up from their prior estimate of $7.20.
ALL has been the subject of several other research reports. Wells Fargo & Co reiterated a “buy” rating and issued a $105.00 price target on shares of Allstate in a report on Thursday, November 2nd. Credit Suisse Group upped their price target on shares of Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Allstate from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods cut shares of Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 2nd. Finally, UBS Group upped their price target on shares of Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Allstate presently has an average rating of “Hold” and a consensus price target of $96.43.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Wednesday, November 29th. Allstate’s dividend payout ratio is presently 20.56%.
In other Allstate news, insider Suren Gupta sold 103,242 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Susan L. Lees sold 4,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.49, for a total transaction of $401,960.00. Following the sale, the executive vice president now directly owns 24,341 shares in the company, valued at $2,446,027.09. The disclosure for this sale can be found here. In the last three months, insiders sold 432,242 shares of company stock worth $42,827,931. 1.58% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sandy Spring Bank raised its position in Allstate by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 28 shares in the last quarter. Afam Capital Inc. raised its position in Allstate by 1.1% during the second quarter. Afam Capital Inc. now owns 25,484 shares of the insurance provider’s stock worth $2,254,000 after acquiring an additional 271 shares in the last quarter. Advisory Services Network LLC raised its position in Allstate by 10.8% during the second quarter. Advisory Services Network LLC now owns 2,798 shares of the insurance provider’s stock worth $247,000 after acquiring an additional 273 shares in the last quarter. Woodmont Investment Counsel LLC raised its position in shares of Allstate by 5.3% in the second quarter. Woodmont Investment Counsel LLC now owns 7,403 shares of the insurance provider’s stock valued at $655,000 after purchasing an additional 370 shares during the period. Finally, Peapack Gladstone Financial Corp raised its position in shares of Allstate by 5.0% in the second quarter. Peapack Gladstone Financial Corp now owns 8,459 shares of the insurance provider’s stock valued at $748,000 after purchasing an additional 400 shares during the period. 76.56% of the stock is currently owned by hedge funds and other institutional investors.
Allstate 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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