$8.43 Billion in Sales Expected for Allstate Corp (ALL) This Quarter

Equities analysts forecast that Allstate Corp (NYSE:ALL) will post $8.43 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Allstate’s earnings, with the highest sales estimate coming in at $8.48 billion and the lowest estimate coming in at $8.35 billion. Allstate posted sales of $9.28 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 9.2%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Allstate will report full year sales of $8.43 billion for the current fiscal year, with estimates ranging from $33.52 billion to $33.65 billion. For the next year, analysts expect that the company will report sales of $34.46 billion per share, with estimates ranging from $34.16 billion to $34.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Allstate.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.01). The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Allstate had a net margin of 7.32% and a return on equity of 13.11%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share.

A number of analysts have commented on ALL shares. UBS Group cut their price target on shares of Allstate from $94.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th. Citigroup cut their price target on shares of Allstate from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Allstate from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Wells Fargo & Co set a $105.00 price target on shares of Allstate and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Credit Suisse Group upped their price target on shares of Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Two equities 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 stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.43.

In other news, insider Suren Gupta sold 103,242 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $98.68, for a total transaction of $10,187,920.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 130,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $99.29, for a total transaction of $12,907,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 432,242 shares of company stock worth $42,827,931 in the last three months. Insiders own 1.58% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ALL. Sandy Spring Bank lifted its position in Allstate by 2.5% in the 2nd quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 28 shares in the last quarter. Afam Capital Inc. lifted its position in Allstate by 1.1% in the 2nd quarter. Afam Capital Inc. now owns 25,484 shares of the insurance provider’s stock valued at $2,254,000 after acquiring an additional 271 shares in the last quarter. Advisory Services Network LLC lifted its position in Allstate by 10.8% in the 2nd quarter. Advisory Services Network LLC now owns 2,798 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 273 shares in the last quarter. Woodmont Investment Counsel LLC lifted its position in Allstate by 5.3% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 7,403 shares of the insurance provider’s stock valued at $655,000 after acquiring an additional 370 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its position in Allstate by 33.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,598 shares of the insurance provider’s stock valued at $141,000 after acquiring an additional 398 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Shares of Allstate (NYSE ALL) traded up $1.33 on Friday, reaching $102.11. 2,397,212 shares of the company’s stock were exchanged, compared to its average volume of 1,661,025. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $36,162.48, a PE ratio of 14.18, a P/E/G ratio of 1.52 and a beta of 1.12. Allstate has a twelve month low of $73.13 and a twelve month high of $105.36.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were given a dividend of $0.37 per share. The ex-dividend date was Wednesday, November 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.45%. Allstate’s dividend payout ratio (DPR) is presently 20.56%.

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About Allstate

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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