Allstate (NYSE:ALL) Posts Earnings Results, Beats Expectations By $1.02 EPS

Allstate (NYSE:ALL - Get Free Report) issued its quarterly earnings results on Thursday. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02, Briefing.com reports. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same quarter last year, the company posted ($1.30) EPS. The company's revenue for the quarter was up 10.7% compared to the same quarter last year.

Allstate Trading Down 1.4 %

Shares of NYSE:ALL traded down $2.38 during midday trading on Thursday, reaching $169.18. The company's stock had a trading volume of 2,730,119 shares, compared to its average volume of 1,686,629. The firm has a market capitalization of $44.51 billion, a price-to-earnings ratio of -136.44, a PEG ratio of 0.41 and a beta of 0.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a 50 day moving average price of $165.88 and a two-hundred day moving average price of $150.65. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $177.37.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Allstate's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate's payout ratio is currently -296.77%.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John E. Dugenske sold 31,000 shares of the business's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company's stock, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen assumed coverage on Allstate in a research note on Wednesday, January 10th. They issued an "outperform" rating and a $193.00 price target on the stock. Jefferies Financial Group upgraded Allstate from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. UBS Group boosted their price objective on Allstate from $171.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, February 12th. Raymond James boosted their price objective on Allstate from $155.00 to $180.00 and gave the stock a "strong-buy" rating in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group boosted their price objective on Allstate from $164.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $174.18.

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.