Brokerages forecast that Allstate Corp (NYSE:ALL) will post $8.77 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Allstate’s earnings, with estimates ranging from $8.65 billion to $8.97 billion. Allstate posted sales of $9.72 billion during the same quarter last year, which suggests a negative year over year growth rate of 9.8%. The company is expected to report its next earnings report on Wednesday, February 6th.
On average, analysts expect that Allstate will report full-year sales of $34.58 billion for the current financial year, with estimates ranging from $34.28 billion to $35.15 billion. For the next fiscal year, analysts expect that the firm will report sales of $36.02 billion, with estimates ranging from $35.46 billion to $36.78 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Allstate.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis.
In related news, EVP Jesse E. Merten sold 696 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $92.12, for a total transaction of $64,115.52. Following the completion of the transaction, the executive vice president now owns 2,102 shares of the company’s stock, valued at approximately $193,636.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total value of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Allstate in the 3rd quarter worth about $110,000. Stelac Advisory Services LLC bought a new stake in shares of Allstate in the third quarter worth $128,000. O Shaughnessy Asset Management LLC grew its stake in shares of Allstate by 1,316.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,331 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 1,237 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Allstate in the third quarter worth $146,000. Finally, Denali Advisors LLC bought a new stake in shares of Allstate in the third quarter worth $158,000. 77.15% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ALL traded down $1.88 during midday trading on Friday, reaching $86.88. 156,149 shares of the stock were exchanged, compared to its average volume of 1,681,433. The stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.20 and a beta of 0.85. Allstate has a twelve month low of $86.77 and a twelve month high of $105.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, November 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.12%. Allstate’s dividend payout ratio (DPR) is 27.42%.
Allstate Company Profile
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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