Research Analysts Offer Predictions for Allstate Corporation (The)’s Q3 2017 Earnings (ALL)

Allstate Corporation (The) (NYSE:ALL) – Stock analysts at William Blair upped their Q3 2017 earnings estimates for shares of Allstate Corporation (The) in a research report issued to clients and investors on Wednesday. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $1.84 per share for the quarter, up from their previous estimate of $1.65. William Blair also issued estimates for Allstate Corporation (The)’s Q4 2017 earnings at $1.78 EPS, FY2017 earnings at $6.63 EPS, Q1 2018 earnings at $1.13 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.91 EPS, Q4 2018 earnings at $1.82 EPS and FY2018 earnings at $5.98 EPS.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a report on Saturday, June 24th. MKM Partners reissued a “buy” rating and set a $100.00 price objective (up from $90.00) on shares of Allstate Corporation (The) in a report on Thursday, May 4th. Citigroup Inc. lifted their price objective on Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 13th. BidaskClub cut Allstate Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $91.00 price objective (up from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $89.38.

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Shares of Allstate Corporation (ALL) opened at 94.24 on Monday. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $94.59. The company has a 50 day moving average of $89.06 and a 200-day moving average of $83.42. The firm has a market cap of $34.05 billion, a PE ratio of 13.92 and a beta of 1.10.

Allstate Corporation (The) (NYSE:ALL) last released its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.48. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The business had revenue of $8.02 billion for the quarter, compared to analysts’ expectations of $7.99 billion. During the same quarter last year, the company earned $0.62 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.48 annualized dividend and a yield of 1.57%. Allstate Corporation (The)’s dividend payout ratio is currently 21.86%.

Allstate Corporation (The) announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 63% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

In other Allstate Corporation (The) news, insider Sanjay Gupta sold 16,798 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $86.00, for a total transaction of $1,444,628.00. Following the completion of the sale, the insider now directly owns 65,798 shares of the company’s stock, valued at approximately $5,658,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harriet K. Harty sold 7,228 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $88.35, for a total value of $638,593.80. Following the sale, the insider now directly owns 18,260 shares of the company’s stock, valued at $1,613,271. The disclosure for this sale can be found here. Insiders have sold a total of 170,677 shares of company stock valued at $14,975,887 over the last three months. Company insiders own 1.58% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the company. FNY Partners Fund LP purchased a new stake in shares of Allstate Corporation (The) during the first quarter valued at $122,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Allstate Corporation (The) by 8.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,550 shares of the insurance provider’s stock valued at $126,000 after buying an additional 122 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of Allstate Corporation (The) by 505.8% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the insurance provider’s stock valued at $145,000 after buying an additional 1,482 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Allstate Corporation (The) during the first quarter valued at $160,000. Finally, Watermark Asset Management Inc. purchased a new stake in shares of Allstate Corporation (The) during the first quarter valued at $170,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Allstate Corporation (The) 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.

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

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