Allstate (NYSE:ALL) Announces Earnings Results

Allstate (NYSE:ALL) announced its earnings results on Wednesday. The insurance provider reported $5.13 EPS for the quarter, topping the consensus estimate of $4.11 by $1.02, Briefing.com reports. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the company posted ($1.30) earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis.

Allstate Stock Performance

Allstate stock traded down $1.00 during mid-day trading on Friday, reaching $168.18. The company had a trading volume of 1,668,295 shares, compared to its average volume of 1,508,644. The company has a quick ratio of 0.37, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market cap of $44.39 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.40 and a beta of 0.51. The company has a 50 day moving average of $166.06 and a 200-day moving average of $150.95. Allstate has a 52 week low of $100.57 and a 52 week high of $177.37.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.92 per share. The ex-dividend date was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a yield of 2.19%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is 81.24%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALL. TD Cowen started coverage on shares of Allstate in a research report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective on the stock. Morgan Stanley boosted their target price on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Roth Mkm raised their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company increased their price objective on Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.18.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the 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 owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of Allstate 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 transaction, 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. Insiders own 1.80% 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.