Brokers Issue Forecasts for Allstate Corporation (The)’s Q2 2017 Earnings (NYSE:ALL)

Allstate Corporation (The) (NYSE:ALL) – Equities research analysts at FBR & Co reduced their Q2 2017 earnings per share estimates for shares of Allstate Corporation (The) in a report issued on Tuesday. FBR & Co analyst R. Binner now expects that the insurance provider will earn $1.04 per share for the quarter, down from their previous estimate of $1.28. FBR & Co currently has a “Mkt Perform” rating and a $82.00 target price on the stock. FBR & Co also issued estimates for Allstate Corporation (The)’s FY2017 earnings at $6.25 EPS.

Allstate Corporation (The) (NYSE:ALL) last released its earnings results on Wednesday, May 3rd. The insurance provider reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.60. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Allstate Corporation (The) had a net margin of 6.27% and a return on equity of 11.45%. TRADEMARK VIOLATION WARNING: This report was originally posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.baseball-news-blog.com/2017/07/23/brokers-issue-forecasts-for-allstate-corporation-thes-q2-2017-earnings-nyseall-updated.html.

A number of other research firms have also recently commented on ALL. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $88.00 price objective on shares of Allstate Corporation (The) in a research report on Friday, June 16th. BidaskClub raised shares of Allstate Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research report on Thursday, June 15th. Morgan Stanley reissued an “equal weight” rating and issued a $91.00 target price (up previously from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. Finally, Barclays PLC reduced their target price on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Allstate Corporation (The) presently has a consensus rating of “Buy” and a consensus price target of $87.00.

Allstate Corporation (ALL) opened at 88.20 on Thursday. The company’s 50-day moving average is $86.83 and its 200 day moving average is $80.91. The firm has a market capitalization of $32.15 billion, a PE ratio of 14.95 and a beta of 1.10. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $90.74.

Several hedge funds have recently added to or reduced their stakes in ALL. BlackRock Inc. boosted its stake in Allstate Corporation (The) by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after buying an additional 25,527,763 shares during the period. Victory Capital Management Inc. boosted its stake in Allstate Corporation (The) by 246.3% in the first quarter. Victory Capital Management Inc. now owns 2,080,446 shares of the insurance provider’s stock valued at $169,536,000 after buying an additional 1,479,694 shares during the period. Ameriprise Financial Inc. boosted its stake in Allstate Corporation (The) by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 3,961,953 shares of the insurance provider’s stock valued at $322,883,000 after buying an additional 1,258,952 shares during the period. Bank of New York Mellon Corp boosted its stake in Allstate Corporation (The) by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,756,094 shares of the insurance provider’s stock valued at $387,575,000 after buying an additional 792,583 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Allstate Corporation (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock valued at $1,926,258,000 after buying an additional 733,684 shares during the period. Institutional investors own 76.27% of the company’s stock.

In other Allstate Corporation (The) news, President Matthew E. Winter sold 33,956 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $81.01, for a total transaction of $2,750,775.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Samuel H. Pilch sold 8,582 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $83.88, for a total value of $719,858.16. Following the sale, the vice president now owns 35,875 shares in the company, valued at $3,009,195. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,157 shares of company stock valued at $14,191,466. Insiders own 1.58% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is 25.00%.

About Allstate Corporation (The)

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.

Earnings History and Estimates for Allstate Corporation (The) (NYSE:ALL)

Receive News & Ratings for Allstate Corporation (The) Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Allstate Corporation (The) and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply