Allstate (NYSE:ALL) Issues Earnings Results

Allstate (NYSE:ALL) issued its quarterly earnings data on Wednesday. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02, Briefing.com reports. The firm had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business posted ($1.30) earnings per share.

Allstate Trading Down 0.6 %

Shares of NYSE ALL traded down $1.00 during trading hours on Friday, hitting $168.18. The company’s stock had a trading volume of 1,668,295 shares, compared to its average volume of 1,508,644. Allstate has a 12 month low of $100.57 and a 12 month high of $177.37. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 37.13, a P/E/G ratio of 0.40 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.37 and a current ratio of 0.36. The business has a 50-day simple moving average of $165.88 and a 200-day simple moving average of $150.65.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio is 81.24%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ALL shares. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. HSBC raised Allstate from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Wells Fargo & Company upped their price objective on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Evercore ISI raised their target price on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley boosted their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.18.

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.