Allstate Corp (NYSE:ALL) – Stock analysts at Langen Mcalenn reduced their Q4 2017 earnings per share (EPS) estimates for shares of Allstate in a research report issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will earn $1.32 per share for the quarter, down from their prior forecast of $1.43.
Other equities analysts also recently issued research reports about the company. Wells Fargo & Co restated a “buy” rating and issued a $105.00 target price on shares of Allstate in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Tuesday, December 12th. B. Riley restated a “neutral” rating on shares of Allstate in a research report on Monday, November 6th. Credit Suisse Group raised their target price on Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Finally, Goldman Sachs Group began coverage on Allstate in a research report on Monday, December 4th. They issued a “neutral” rating and a $104.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Allstate presently has an average rating of “Hold” and a consensus price target of $96.43.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Allstate had a return on equity of 13.11% and a net margin of 7.32%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 EPS.
Large investors have recently bought and sold shares of the stock. Arrow Financial Corp increased its holdings in shares of Allstate by 100.0% in the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 553 shares during the last quarter. Sandy Spring Bank increased its stake in Allstate by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 28 shares during the last quarter. IHT Wealth Management LLC increased its stake in Allstate by 46.6% during the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock worth $113,000 after acquiring an additional 405 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in Allstate during the third quarter worth $116,000. Finally, Baker Ellis Asset Management LLC acquired a new stake in Allstate during the third quarter worth $120,000. 76.56% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Suren Gupta sold 103,242 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $98.68, for a total value of $10,187,920.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Wilson sold 130,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $99.29, for a total value of $12,907,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,242 shares of company stock valued at $42,827,931. Insiders own 1.58% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.42%. Allstate’s dividend payout ratio is presently 20.56%.
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Allstate 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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