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.

Shares of Allstate (ALL) traded up $1.81 during midday trading on Thursday, reaching $103.94. 1,765,300 shares of the company were exchanged, compared to its average volume of 2,193,582. The firm has a market capitalization of $37,320.00, a PE ratio of 14.44, a P/E/G ratio of 1.54 and a beta of 1.12. Allstate has a 52-week low of $73.90 and a 52-week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.

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.

WARNING: “Allstate Corp (ALL) Forecasted to Post FY2018 Earnings of $8.00 Per Share” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/01/18/allstate-corp-all-forecasted-to-post-fy2018-earnings-of-8-00-per-share.html.

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.

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply