Allstate (NYSE:ALL) Issues Quarterly Earnings Results

Allstate (NYSE:ALL) released its quarterly earnings results on Wednesday. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71, Briefing.com reports. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 27.74%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share.

Allstate Price Performance

NYSE:ALL traded down $2.37 on Friday, reaching $184.15. 1,533,736 shares of the company’s stock traded hands, compared to its average volume of 1,546,804. The firm has a market cap of $48.62 billion, a PE ratio of 11.93, a P/E/G ratio of 1.91 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $188.87 and a 200-day simple moving average of $175.16. Allstate has a 12 month low of $127.93 and a 12 month high of $198.79.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALL. Barclays upped their target price on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Roth Mkm reiterated a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. Keefe, Bruyette & Woods lifted their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group increased their target price on Allstate from $217.00 to $231.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $207.19.

Insider Activity at Allstate

In other news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total value of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $877,968.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by company insiders.

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.