William Blair Weighs in on The Allstate Co.’s Q3 2021 Earnings (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Research analysts at William Blair cut their Q3 2021 EPS estimates for shares of The Allstate in a note issued to investors on Monday, October 25th. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings per share of $1.45 for the quarter, down from their prior forecast of $2.17. William Blair also issued estimates for The Allstate’s Q4 2021 earnings at $3.92 EPS.

Several other research analysts also recently commented on ALL. Morgan Stanley cut their price objective on shares of The Allstate from $144.00 to $137.00 and set an “equal weight” rating for the company in a report on Friday, October 15th. Raymond James reissued a “buy” rating and issued a $150.00 target price on shares of The Allstate in a research note on Friday, September 17th. Wells Fargo & Company increased their price objective on The Allstate from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, July 9th. UBS Group increased their target price on The Allstate from $118.00 to $139.00 and gave the company a “neutral” rating in a report on Friday, July 9th. Finally, Wolfe Research began coverage on The Allstate in a report on Monday, August 16th. They set a “peer perform” rating and a $130.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $140.08.

Shares of ALL stock opened at $124.90 on Thursday. The company has a 50 day moving average of $131.68 and a 200-day moving average of $130.56. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The Allstate has a 12-month low of $86.51 and a 12-month high of $140.00. The firm has a market cap of $36.93 billion, a P/E ratio of 9.84, a PEG ratio of 1.09 and a beta of 0.86.

The Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.17 by $0.62. The Allstate had a net margin of 8.27% and a return on equity of 22.27%. The business had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year.

The Allstate declared that its board has initiated a share buyback plan on Wednesday, August 4th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 13% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Large investors have recently bought and sold shares of the company. Andesa Financial Management Inc. increased its holdings in The Allstate by 2.9% in the second quarter. Andesa Financial Management Inc. now owns 2,654 shares of the insurance provider’s stock valued at $344,000 after buying an additional 76 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in The Allstate by 3.4% during the third quarter. Carroll Financial Associates Inc. now owns 2,365 shares of the insurance provider’s stock worth $301,000 after acquiring an additional 78 shares during the last quarter. Avantax Planning Partners Inc. increased its stake in The Allstate by 2.8% during the second quarter. Avantax Planning Partners Inc. now owns 2,951 shares of the insurance provider’s stock worth $385,000 after acquiring an additional 81 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in shares of The Allstate by 2.9% during the third quarter. Foundations Investment Advisors LLC now owns 2,901 shares of the insurance provider’s stock worth $372,000 after buying an additional 83 shares during the period. Finally, Providence Wealth Advisors LLC boosted its position in shares of The Allstate by 0.5% during the second quarter. Providence Wealth Advisors LLC now owns 16,545 shares of the insurance provider’s stock worth $2,193,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

The Allstate Company Profile

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

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Earnings History and Estimates for The Allstate (NYSE:ALL)

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