Allstate (NYSE:ALL) Releases Quarterly Earnings Results, Beats Expectations By $1.02 EPS

Allstate (NYSE:ALL) released its quarterly earnings data on Thursday. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02, Briefing.com reports. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. Allstate’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.30) earnings per share.

Allstate Trading Down 0.6 %

Shares of ALL stock traded down $1.00 on Friday, reaching $168.18. 1,668,295 shares of the stock were exchanged, compared to its average volume of 1,508,644. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.37. Allstate has a one year low of $100.57 and a one year high of $177.37. The stock has a market cap of $44.39 billion, a PE ratio of 37.13, a P/E/G ratio of 0.40 and a beta of 0.51. The stock has a 50 day moving average price of $166.06 and a 200 day moving average price of $150.95.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.19%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group boosted their price target on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a report on Monday, February 12th. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Morgan Stanley lifted their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, April 15th. TD Cowen initiated coverage on Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price for the company. Finally, HSBC upgraded Allstate from a “hold” rating to a “buy” rating and increased their price objective for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.18.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.