Allstate (NYSE:ALL) Posts Quarterly Earnings Results, Beats Expectations By $5.59 EPS

Allstate (NYSE:ALL) released its quarterly earnings data on Wednesday. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59, FiscalAI reports. Allstate had a return on equity of 35.42% and a net margin of 12.53%.

Allstate Stock Up 2.6%

Shares of Allstate stock traded up $5.28 on Wednesday, hitting $207.05. 2,420,622 shares of the company’s stock traded hands, compared to its average volume of 1,852,239. Allstate has a 52-week low of $176.00 and a 52-week high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock has a market cap of $54.18 billion, a P/E ratio of 6.70, a PEG ratio of 0.44 and a beta of 0.23. The firm’s 50-day moving average is $204.11 and its 200 day moving average is $203.58.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio is presently 12.95%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 48,400 shares of company stock valued at $10,313,256. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new stake in shares of Allstate during the 3rd quarter valued at approximately $31,000. Wealth Watch Advisors INC bought a new position in shares of Allstate in the 3rd quarter worth about $68,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Allstate in the 3rd quarter valued at about $95,000. Wiser Advisor Group LLC bought a new stake in shares of Allstate during the 3rd quarter valued at about $116,000. Finally, WFA of San Diego LLC acquired a new stake in Allstate during the second quarter worth about $134,000. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALL shares. The Goldman Sachs Group set a $227.00 price target on Allstate in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Allstate from $250.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. BMO Capital Markets lifted their target price on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $236.19.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.