Allstate (NYSE:ALL) Announces Earnings Results

Key Points

• Allstate reported a quarterly earnings of $5.94 EPS, significantly beating the consensus estimate of $3.20 EPS by $2.74.
• The company declared a quarterly dividend of $1.00 per share, translating to an annualized dividend yield of 2.08%.
• Allstate's shares traded down 0.8% during the reporting day, with current trading at $192.29.

Allstate (NYSE:ALL - Get Free Report) posted its earnings results on Wednesday. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74, Zacks reports. The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS.

Allstate Trading Down 1.7%

Shares of ALL traded down $3.54 during mid-day trading on Friday, hitting $199.71. 2,041,482 shares of the company's stock traded hands, compared to its average volume of 1,619,968. The company has a quick ratio of 0.40, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. Allstate has a 1 year low of $168.36 and a 1 year high of $213.18. The firm has a market capitalization of $52.63 billion, a P/E ratio of 9.39, a PEG ratio of 1.06 and a beta of 0.35. The business's 50-day moving average price is $198.44 and its 200-day moving average price is $197.11.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is 27.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALL shares. William Blair started coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating for the company. UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Keefe, Bruyette & Woods lifted their target price on Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $228.40.

Hedge Funds Weigh In On Allstate

A hedge fund recently raised its stake in Allstate stock. Brighton Jones LLC grew its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 60.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,500 shares of the insurance provider's stock after buying an additional 2,443 shares during the period. Brighton Jones LLC's holdings in Allstate were worth $1,253,000 as of its most recent SEC filing. Institutional investors own 76.47% of the company's stock.

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.