Allstate Corp (ALL) Expected to Announce Quarterly Sales of $8.56 Billion

Analysts predict that Allstate Corp (NYSE:ALL) will report sales of $8.56 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Allstate’s earnings, with the lowest sales estimate coming in at $8.53 billion and the highest estimate coming in at $8.59 billion. Allstate posted sales of $9.56 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 10.5%. The company is expected to issue its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Allstate will report full-year sales of $34.14 billion for the current year, with estimates ranging from $34.04 billion to $34.23 billion. For the next financial year, analysts forecast that the company will report sales of $35.67 billion per share, with estimates ranging from $35.34 billion to $35.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Allstate.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.53 billion. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 earnings per share.

A number of brokerages have weighed in on ALL. Argus upped their price objective on shares of Allstate from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 9th. Citigroup decreased their price objective on shares of Allstate from $108.00 to $107.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Credit Suisse Group began coverage on shares of Allstate in a research report on Tuesday, August 7th. They issued an “outperform” rating and a $114.00 price objective for the company. Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Allstate in a research report on Thursday, May 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $103.62.

In related news, EVP Susan L. Lees sold 22,189 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total transaction of $2,202,036.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenn T. Shapiro sold 21,728 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $98.70, for a total transaction of $2,144,553.60. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. purchased a new stake in shares of Allstate in the 1st quarter valued at approximately $3,166,000. Dupont Capital Management Corp increased its position in shares of Allstate by 5.3% in the 1st quarter. Dupont Capital Management Corp now owns 65,467 shares of the insurance provider’s stock valued at $6,206,000 after purchasing an additional 3,273 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of Allstate by 125.0% in the 1st quarter. Sentry Investment Management LLC now owns 26,798 shares of the insurance provider’s stock valued at $2,540,000 after purchasing an additional 14,886 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Allstate by 25.0% in the 1st quarter. Fulton Bank N.A. now owns 14,694 shares of the insurance provider’s stock valued at $1,393,000 after purchasing an additional 2,942 shares during the last quarter. Finally, Dean Capital Investments Management LLC increased its position in shares of Allstate by 169.1% in the 1st quarter. Dean Capital Investments Management LLC now owns 11,266 shares of the insurance provider’s stock valued at $1,068,000 after purchasing an additional 7,080 shares during the last quarter. 76.74% of the stock is owned by institutional investors.

Shares of Allstate stock traded down $0.85 during trading hours on Tuesday, reaching $98.63. The stock had a trading volume of 1,227,566 shares, compared to its average volume of 1,829,357. The company has a market cap of $34.44 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.94. Allstate has a twelve month low of $85.59 and a twelve month high of $105.36. 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 business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.87%. Allstate’s dividend payout ratio is currently 27.42%.

About Allstate

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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