Allstate Corporation (The) (ALL) Getting Somewhat Positive Press Coverage, Study Finds
Media headlines about Allstate Corporation (The) (NYSE:ALL) have been trending somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Allstate Corporation (The) earned a news impact score of 0.12 on Accern’s scale. Accern also gave press coverage about the insurance provider an impact score of 46.5150968079926 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- $8.37 Billion in Sales Expected for Allstate Corporation (The) (ALL) This Quarter (americanbankingnews.com)
- Allstate Announces August 2017 Catastrophe Loss Estimate – PR Newswire (press release) (prnewswire.com)
- Allstate’s August catastrophic losses totaled $593M, thanks to Harvey – Seeking Alpha (seekingalpha.com)
- Allstate insurance estimates $593 million in storm losses (texarkanagazette.com)
- Target 8: Allstate erroneously declares Polk woman’s car totaled after Irma (wfla.com)
ALL has been the subject of a number of recent research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a report on Thursday, June 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price objective on shares of Allstate Corporation (The) in a report on Friday, June 16th. BidaskClub upgraded shares of Allstate Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Barclays PLC cut their price objective on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 price objective (up previously from $85.00) on shares of Allstate Corporation (The) in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Allstate Corporation (The) presently has a consensus rating of “Hold” and an average target price of $90.31.
Shares of Allstate Corporation (NYSE:ALL) opened at 91.00 on Tuesday. The stock has a 50 day moving average of $91.89 and a 200 day moving average of $86.77. The stock has a market cap of $32.88 billion, a PE ratio of 13.44 and a beta of 1.09. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25.
Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.48. The business had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. Equities research analysts forecast that Allstate Corporation will post $6.10 EPS for the current year.
Allstate Corporation (The) declared that its board has authorized a share repurchase plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 63% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Thursday, August 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio is presently 21.86%.
In related news, CFO Steven E. Shebik sold 35,197 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $94.28, for a total value of $3,318,373.16. Following the completion of the sale, the chief financial officer now directly owns 127,560 shares in the company, valued at $12,026,356.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Matthew E. Winter sold 48,058 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.54, for a total transaction of $4,255,055.32. The disclosure for this sale can be found here. In the last three months, insiders sold 150,830 shares of company stock valued at $13,911,217. Company insiders own 1.58% of the company’s stock.
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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.
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