Allstate (NYSE:ALL) Posts Earnings Results, Beats Expectations By $1.28 EPS

Allstate (NYSE:ALL) posted its quarterly earnings results on Wednesday. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28, Briefing.com reports. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.42) earnings per share.

Allstate Price Performance

Shares of NYSE:ALL traded up $3.32 on Thursday, hitting $174.44. The stock had a trading volume of 1,577,026 shares, compared to its average volume of 1,565,607. Allstate has a twelve month low of $104.29 and a twelve month high of $180.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s 50 day moving average price is $164.17 and its 200-day moving average price is $163.89. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 1.82 and a beta of 0.48.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 2.11%. Allstate’s dividend payout ratio is presently 81.24%.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent research reports. Morgan Stanley cut their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. BMO Capital Markets raised shares of Allstate from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $190.00 to $191.00 in a research report on Thursday, July 18th. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Evercore ISI lifted their price target on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $183.24.

Insider Activity

In related news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate 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.