Analysts Issue Forecasts for Allstate Corporation (The)’s Q4 2017 Earnings (ALL)
Allstate Corporation (The) (NYSE:ALL) – Stock analysts at B. Riley issued their Q4 2017 earnings estimates for shares of Allstate in a research note issued to investors on Monday. B. Riley analyst R. Binner expects that the insurance provider will post earnings per share of $1.98 for the quarter. B. Riley has a “Neutral” rating on the stock.
A number of other research firms also recently commented on ALL. Citigroup cut their target price on shares of Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Wells Fargo & Company set a $110.00 target price on shares of Allstate and gave the company a “buy” rating in a research report on Thursday, November 16th. Zacks Investment Research downgraded shares of Allstate from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Goldman Sachs Group initiated coverage on shares of Allstate in a research report on Monday. They set a “neutral” rating and a $104.00 target price on the stock. Finally, Barclays raised their target price on shares of Allstate from $101.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $95.08.
Allstate (NYSE:ALL) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Wednesday, November 29th. Allstate’s payout ratio is currently 20.56%.
In other news, CEO Thomas J. Wilson sold 130,000 shares of Allstate stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $99.29, for a total value of $12,907,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.49, for a total transaction of $401,960.00. Following the completion of the transaction, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $2,446,027.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,242 shares of company stock worth $42,827,931. Insiders own 1.58% of the company’s stock.
Several institutional investors have recently modified their holdings of ALL. Arrow Financial Corp grew its position in shares of Allstate by 100.0% in the 3rd quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock worth $102,000 after buying an additional 553 shares during the last quarter. Sandy Spring Bank grew its position in Allstate by 2.5% during the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 28 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its position in Allstate by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 5 shares during the last quarter. IHT Wealth Management LLC grew its position in Allstate by 46.6% during the 2nd 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 during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in Allstate during the 3rd quarter worth approximately $116,000. 76.33% of the stock is currently owned by hedge funds and other institutional investors.
Allstate 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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