Allstate (NYSE:ALL) Releases Earnings Results, Beats Estimates By $2.93 EPS

Key Points

• Allstate reported quarterly EPS of $8.99, beating analysts’ consensus estimate of $6.06 by $2.93. The company posted a 42.66% return on equity and a 17.81% net margin.
• Allstate shares rose to $264.25, near their 52-week high of $277.22. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $254.80.
• The insurer declared a quarterly dividend of $1.08 per share, equivalent to $4.32 annually and a 1.6% yield; institutional investors own 76.47% of the stock.

Allstate (NYSE:ALL - Get Free Report) issued its earnings results on Wednesday. The insurance provider reported $8.99 EPS for the quarter, topping the consensus estimate of $6.06 by $2.93, FiscalAI reports. Allstate had a return on equity of 42.66% and a net margin of 17.81%.

Allstate Price Performance

Shares of Allstate stock traded up $1.69 during mid-day trading on Wednesday, reaching $264.25. 1,433,613 shares of the stock were exchanged, compared to its average volume of 1,671,064. The company has a market cap of $68.02 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.45 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $237.86 and a 200 day simple moving average of $219.05. Allstate has a fifty-two week low of $188.08 and a fifty-two week high of $277.22.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate's dividend payout ratio is presently 9.53%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALL shares. Morgan Stanley boosted their price target on shares of Allstate from $215.00 to $240.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Zacks Research lowered shares of Allstate from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Citigroup upped their target price on shares of Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Weiss Ratings reissued a "buy (a-)" rating on shares of Allstate in a research report on Thursday, June 18th. Finally, UBS Group cut shares of Allstate from a "buy" rating to a "neutral" rating and raised their price target for the stock from $255.00 to $261.00 in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $254.80.

Insider Transactions at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently bought and sold shares of ALL. Brighton Jones LLC grew its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in Allstate during the 4th quarter worth about $231,000. WINTON GROUP Ltd acquired a new position in Allstate during the 2nd quarter worth about $210,000. Treasurer of the State of North Carolina grew its holdings in Allstate by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in Allstate by 20.1% during the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock worth $7,713,000 after acquiring an additional 6,412 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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