Allstate Corp (ALL) Expected to Post Earnings of $1.90 Per Share

Brokerages forecast that Allstate Corp (NYSE:ALL) will post earnings per share of $1.90 for the current quarter, according to Zacks. Three analysts have issued estimates for Allstate’s earnings, with estimates ranging from $0.99 to $2.66. Allstate reported earnings per share of $1.60 during the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, October 31st.

According to Zacks, analysts expect that Allstate will report full-year earnings of $9.32 per share for the current financial year, with EPS estimates ranging from $8.37 to $10.00. For the next year, analysts expect that the business will report earnings of $9.22 per share, with EPS estimates ranging from $8.70 to $9.70. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Allstate.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.

A number of research analysts have issued reports on the company. ValuEngine cut Allstate from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Citigroup set a $115.00 target price on Allstate and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. B. Riley lifted their target price on Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Finally, Buckingham Research upgraded Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 target price on the stock in a research report on Wednesday, July 18th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $104.62.

In other news, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now directly owns 14,606 shares in the company, valued at $1,444,095.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan L. Lees sold 22,189 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total value of $2,202,036.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,432 shares of company stock worth $5,386,208. Company insiders own 1.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ALL. Boston Partners grew its holdings in shares of Allstate by 11.2% during the second quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock worth $959,406,000 after purchasing an additional 1,061,730 shares during the last quarter. FMR LLC grew its holdings in shares of Allstate by 24.7% during the second quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock worth $373,917,000 after purchasing an additional 811,694 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Allstate by 101.9% during the second quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock worth $145,082,000 after purchasing an additional 802,167 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Allstate by 37.1% in the second quarter. Victory Capital Management Inc. now owns 2,103,032 shares of the insurance provider’s stock valued at $191,944,000 after acquiring an additional 569,363 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Allstate by 4.3% in the second quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock valued at $682,581,000 after acquiring an additional 305,110 shares during the last quarter. Institutional investors own 76.22% of the company’s stock.

Allstate stock traded down $0.01 during midday trading on Friday, reaching $93.16. The company’s stock had a trading volume of 1,858,800 shares, compared to its average volume of 2,073,803. Allstate has a 52 week low of $88.29 and a 52 week high of $105.36. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. The stock has a market cap of $34.17 billion, a PE ratio of 13.88, a P/E/G ratio of 1.27 and a beta of 0.92.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, August 31st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 27.42%.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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