FY2017 EPS Estimates for Allstate Corp Raised by Analyst (ALL)
Allstate Corp (NYSE:ALL) – Investment analysts at William Blair lifted their FY2017 earnings per share estimates for shares of Allstate Corp in a research report issued on Wednesday, Zacks Investment Research reports. William Blair analyst A. Klauber now forecasts that the insurance provider will post earnings per share of $5.94 for the year, up from their previous forecast of $5.28.
Several other research analysts have also weighed in on ALL. FBR & Co reaffirmed a “hold” rating on shares of Allstate Corp in a research note on Thursday, February 2nd. Credit Suisse Group AG reissued a “hold” rating and issued a $80.00 price objective on shares of Allstate Corp in a research note on Sunday, February 5th. Zacks Investment Research raised shares of Allstate Corp from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Monday, February 6th. Keefe, Bruyette & Woods lowered shares of Allstate Corp from an “outperform” rating to a “market perform” rating and set a $81.00 price objective for the company. in a research note on Wednesday, March 1st. Finally, Citigroup Inc raised their price objective on shares of Allstate Corp from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, April 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $85.18.
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Allstate Corp (NYSE:ALL) traded down 0.13% during midday trading on Monday, reaching $84.61. 760,571 shares of the company’s stock traded hands. The firm’s 50-day moving average is $82.32 and its 200-day moving average is $77.30. Allstate Corp has a 1-year low of $65.27 and a 1-year high of $86.03. The company has a market capitalization of $30.84 billion, a price-to-earnings ratio of 14.35 and a beta of 0.96.
Allstate Corp (NYSE:ALL) last released its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.60. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Allstate Corp had a net margin of 5.14% and a return on equity of 10.21%.
In other Allstate Corp news, President Matthew E. Winter sold 33,957 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $84.38, for a total transaction of $2,865,291.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Samuel H. Pilch sold 8,582 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $83.88, for a total transaction of $719,858.16. Following the sale, the vice president now directly owns 35,875 shares in the company, valued at approximately $3,009,195. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,139 shares of company stock worth $11,548,957. 1.58% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Allstate Corp by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock worth $2,156,089,000 after buying an additional 25,527,763 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Allstate Corp by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock worth $1,926,258,000 after buying an additional 733,684 shares during the last quarter. State Street Corp boosted its position in shares of Allstate Corp by 3.0% in the first quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after buying an additional 530,591 shares during the last quarter. Boston Partners boosted its position in shares of Allstate Corp by 0.6% in the third quarter. Boston Partners now owns 9,515,049 shares of the insurance provider’s stock worth $658,251,000 after buying an additional 59,779 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Allstate Corp by 6.1% in the first quarter. AQR Capital Management LLC now owns 6,268,589 shares of the insurance provider’s stock worth $510,828,000 after buying an additional 363,084 shares during the last quarter. 76.44% of the stock is currently owned by institutional investors and hedge funds.
About Allstate Corp
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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