Allstate Corp. (ALL) to Post FY2016 Earnings of $4.30 Per Share, Langen Mcalenn Forecasts
Allstate Corp. (NYSE:ALL) – Equities researchers at Langen Mcalenn raised their FY2016 EPS estimates for shares of Allstate Corp. in a research report issued to clients and investors on Thursday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the brokerage will post earnings of $4.30 per share for the year, up from their previous estimate of $3.70. Langen Mcalenn also issued estimates for Allstate Corp.’s Q4 2016 earnings at $1.59 EPS.
ALL has been the subject of several other research reports. Zacks Investment Research lowered shares of Allstate Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Allstate Corp. in a research note on Thursday, November 3rd. Credit Suisse Group AG set a $73.00 target price on shares of Allstate Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Deutsche Bank AG increased their target price on shares of Allstate Corp. from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $79.00 target price (up previously from $74.00) on shares of Allstate Corp. in a research note on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 72.27 ($0.90).
Allstate Corp. (NYSE:ALL) opened at 72.02 on Monday. The company has a market cap of $26.52 billion, a price-to-earnings ratio of 19.50 and a beta of 0.96. Allstate Corp. has a 1-year low of $56.03 and a 1-year high of $72.20. The company’s 50 day moving average is $68.29 and its 200 day moving average is $68.10.
Allstate Corp. (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The firm earned $7.87 billion during the quarter, compared to analyst estimates of $8.35 billion. Allstate Corp. had a net margin of 4.25% and a return on equity of 9.16%. Allstate Corp.’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.83%. Allstate Corp.’s payout ratio is currently 35.68%.
A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Allstate Corp. by 492.6% in the first quarter. Wellington Management Group LLP now owns 514,751 shares of the company’s stock worth $34,680,000 after buying an additional 427,882 shares during the last quarter. Springbok Capital Management LLC acquired a new position in shares of Allstate Corp. during the first quarter worth approximately $219,000. Magnetar Financial LLC acquired a new position in shares of Allstate Corp. during the first quarter worth approximately $225,000. LPL Financial LLC boosted its position in shares of Allstate Corp. by 11.1% in the first quarter. LPL Financial LLC now owns 56,039 shares of the company’s stock worth $3,739,000 after buying an additional 5,592 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Allstate Corp. by 1.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,965 shares of the company’s stock worth $3,304,000 after buying an additional 773 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.
Allstate Corp. Company Profile
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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