Allstate (NYSE:ALL) Releases Quarterly Earnings Results, Beats Expectations By $1.71 EPS

Allstate (NYSE:ALL) issued its quarterly earnings data on Wednesday. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71, Briefing.com reports. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the company earned $0.81 earnings per share. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis.

Allstate Stock Performance

Shares of NYSE ALL traded up $0.56 during mid-day trading on Thursday, hitting $190.00. The company had a trading volume of 1,685,623 shares, compared to its average volume of 1,536,302. Allstate has a 12 month low of $125.63 and a 12 month high of $198.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50 day simple moving average is $188.69 and its two-hundred day simple moving average is $174.95. The stock has a market cap of $50.14 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 1.74 and a beta of 0.48.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALL. Wells Fargo & Company lowered their target price on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Keefe, Bruyette & Woods raised their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their target price on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets increased their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Piper Sandler lifted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $206.44.

Insiders Place Their Bets

In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,530 shares of company stock valued at $34,967,665 over the last three months. Company insiders own 1.80% of the company’s stock.

Allstate Company Profile

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.