Zacks: Brokerages Anticipate Allstate Corp (ALL) Will Announce Earnings of $1.90 Per Share
Equities analysts expect Allstate Corp (NYSE:ALL) to post earnings per share of $1.90 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Allstate’s earnings, with estimates ranging from $0.99 to $2.66. Allstate posted earnings of $1.60 per share during the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that Allstate will report full year earnings of $9.29 per share for the current year, with EPS estimates ranging from $8.37 to $10.00. For the next financial year, analysts expect that the company will post earnings of $9.22 per share, with EPS estimates ranging from $8.70 to $9.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Allstate.
Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year.
In related news, EVP Susan L. Lees sold 22,189 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $99.24, for a total value of $2,202,036.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the completion of the sale, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,432 shares of company stock valued at $5,386,208. 1.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of ALL. Ostrum Asset Management acquired a new position in Allstate in the first quarter valued at approximately $862,000. Ancora Advisors LLC acquired a new position in Allstate in the first quarter valued at approximately $274,000. ETF Managers Group LLC acquired a new position in Allstate in the first quarter valued at approximately $226,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Allstate by 1.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 40,210 shares of the insurance provider’s stock valued at $3,812,000 after acquiring an additional 749 shares during the period. Finally, Mariner LLC boosted its stake in Allstate by 148.0% in the first quarter. Mariner LLC now owns 5,117 shares of the insurance provider’s stock valued at $485,000 after acquiring an additional 3,054 shares during the period. Institutional investors own 76.23% of the company’s stock.
Shares of NYSE ALL traded up $0.71 during midday trading on Friday, reaching $97.32. 2,383,500 shares of the company’s stock were exchanged, compared to its average volume of 2,078,643. Allstate has a 52-week low of $88.29 and a 52-week high of $105.36. The firm has a market cap of $33.15 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, August 31st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, August 30th. Allstate’s dividend payout ratio is currently 27.42%.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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