Allstate (NYSE:ALL) Posts Earnings Results, Beats Expectations By $1.71 EPS

Allstate (NYSE:ALL) released its quarterly earnings results on Wednesday. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71, Briefing.com reports. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis.

Allstate Trading Down 1.5 %

NYSE ALL traded down $2.92 during mid-day trading on Thursday, reaching $186.52. 3,914,838 shares of the stock were exchanged, compared to its average volume of 1,546,867. The stock has a market capitalization of $49.23 billion, a PE ratio of 41.69, a PEG ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 1-year low of $125.63 and a 1-year high of $198.79. The business’s fifty day simple moving average is $188.69 and its 200 day simple moving average is $174.95.

Insider Buying and Selling at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 192,530 shares of company stock worth $34,967,665. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALL. Barclays increased their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group lifted their price objective on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Raymond James increased their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $207.19.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.