FY2017 EPS Estimates for Allstate Corporation (The) (ALL) Increased by Langen Mcalenn
Allstate Corporation (The) (NYSE:ALL) – Equities research analysts at Langen Mcalenn upped their FY2017 earnings per share estimates for Allstate Corporation (The) in a research note issued on Thursday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings per share of $6.05 for the year, up from their previous forecast of $5.95. Langen Mcalenn also issued estimates for Allstate Corporation (The)’s Q1 2018 earnings at $2.19 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $2.06 EPS and FY2018 earnings at $7.20 EPS.
Other research analysts have also recently issued research reports about the stock. UBS AG reiterated a “neutral” rating and set a $94.00 price objective (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, August 17th. Buckingham Research began coverage on shares of Allstate Corporation (The) in a research report on Monday, September 11th. They set an “underperform” rating and a $74.00 price target for the company. BidaskClub downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG downgraded shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and increased their price target for the stock from $90.00 to $96.00 in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Allstate Corporation (The) has an average rating of “Hold” and a consensus target price of $93.38.
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Shares of Allstate Corporation (ALL) opened at $99.70 on Monday. The company has a market cap of $35,997.42, a P/E ratio of 14.77, a PEG ratio of 1.92 and a beta of 1.09. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. Allstate Corporation has a 12 month low of $69.04 and a 12 month high of $101.12.
Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Allstate Corporation (The) had a net margin of 7.32% and a return on equity of 13.11%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 EPS.
Hedge funds have recently made changes to their positions in the business. Arrow Financial Corp lifted its stake in Allstate Corporation (The) by 100.0% in the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after buying an additional 553 shares during the last quarter. Sandy Spring Bank grew its holdings in Allstate Corporation (The) 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 during the period. Jackson Grant Investment Advisers Inc. grew its holdings in Allstate Corporation (The) by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock worth $108,000 after acquiring an additional 5 shares during the period. Financial Engines Advisors L.L.C. purchased a new stake in Allstate Corporation (The) during the third quarter worth $116,000. Finally, IHT Wealth Management LLC boosted its position in Allstate Corporation (The) by 46.6% during the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 76.30% of the company’s stock.
In other Allstate Corporation (The) news, Chairman Thomas J. Wilson sold 195,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $99.13, for a total transaction of $19,330,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suren Gupta sold 103,242 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 428,242 shares of company stock valued at $42,425,971. 1.50% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.48%. Allstate Corporation (The)’s payout ratio is 20.56%.
Allstate Corporation (The) declared that its board has approved a share repurchase program on Tuesday, August 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 63% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Allstate Corporation (The) 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.
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