Allstate Corp (NYSE:ALL) – Equities researchers at Langen Mcalenn cut their Q4 2018 earnings per share (EPS) estimates for shares of Allstate in a report released on Friday, November 2nd. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings of $2.17 per share for the quarter, down from their previous forecast of $2.32. Langen Mcalenn also issued estimates for Allstate’s Q1 2019 earnings at $2.66 EPS, Q2 2019 earnings at $1.60 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $2.78 EPS and FY2019 earnings at $8.90 EPS.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis.
A number of other equities research analysts have also recently issued reports on the company. Citigroup lowered their price objective on Allstate from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Bank of America lowered their price objective on Allstate from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. ValuEngine cut Allstate from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the company a “hold” rating in a research note on Wednesday, October 31st. Finally, Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $103.92.
Shares of Allstate stock opened at $91.03 on Monday. Allstate has a 52-week low of $88.29 and a 52-week high of $105.36. The stock has a market capitalization of $30.84 billion, a P/E ratio of 13.57, a PEG ratio of 1.15 and a beta of 0.87. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.30.
In other news, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the sale, the executive vice president now directly owns 14,606 shares in the company, valued at $1,444,095.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ALL. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Allstate during the third quarter worth about $110,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Allstate during the second quarter worth about $124,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Allstate by 1,316.0% during 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 in the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Allstate during the third quarter worth about $146,000. Finally, Denali Advisors LLC purchased a new position in shares of Allstate during the third quarter worth about $158,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.
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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