Allstate (NYSE:ALL) Releases Quarterly Earnings Results, Beats Expectations By $1.71 EPS

Allstate (NYSE:ALL) announced its earnings results on Wednesday. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71, Briefing.com reports. Allstate had a return on equity of 27.74% and a net margin of 6.77%. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the company earned $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year.

Allstate Price Performance

Shares of ALL traded down $2.37 during midday trading on Friday, reaching $184.15. The stock had a trading volume of 1,533,736 shares, compared to its average volume of 1,546,804. The company has a market capitalization of $48.62 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. Allstate has a 12-month low of $127.93 and a 12-month high of $198.79. The company’s 50-day moving average is $188.87 and its 200 day moving average is $175.16.

Insiders Place Their Bets

In other news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total value of $3,005,595.94. Following the transaction, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,530 shares of company stock valued at $34,967,665 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Raymond James raised their price objective on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. Evercore ISI boosted their target price on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. UBS Group raised their price target on shares of Allstate from $215.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.19.

About Allstate

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.