Allstate (NYSE:ALL) Announces Quarterly Earnings Results, Beats Estimates By $1.28 EPS

Allstate (NYSE:ALL) issued its quarterly earnings data on Wednesday. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28, Briefing.com reports. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter in the previous year, the firm posted ($4.42) earnings per share. Allstate’s revenue for the quarter was up 12.4% compared to the same quarter last year.

Allstate Trading Up 2.9 %

NYSE ALL traded up $4.99 during trading hours on Thursday, reaching $176.11. The company had a trading volume of 1,774,000 shares, compared to its average volume of 1,566,367. The stock has a market capitalization of $46.48 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 1.82 and a beta of 0.48. The stock has a 50-day moving average of $164.17 and a 200 day moving average of $163.89. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. Allstate has a 1-year low of $104.29 and a 1-year high of $180.87.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.09%. Allstate’s payout ratio is 81.24%.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALL has been the topic of several analyst reports. Morgan Stanley cut their target price on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Evercore ISI raised their target price on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their price objective on Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a report on Friday, July 19th. Bank of America upped their price target on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets upgraded Allstate from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $190.00 to $191.00 in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.24.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.