Allstate Corp (ALL) Expected to Post Quarterly Sales of $8.45 Billion

Brokerages expect Allstate Corp (NYSE:ALL) to post $8.45 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Allstate’s earnings. The highest sales estimate is $8.54 billion and the lowest is $8.27 billion. Allstate reported sales of $9.30 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.1%. The company is expected to report its next earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Allstate will report full-year sales of $8.45 billion for the current fiscal year, with estimates ranging from $33.63 billion to $34.66 billion. For the next financial year, analysts forecast that the firm will post sales of $35.48 billion per share, with estimates ranging from $35.14 billion to $35.83 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Allstate.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.56. Allstate had a return on equity of 23.77% and a net margin of 12.68%. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the business posted $2.17 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Deutsche Bank decreased their price target on Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Citigroup decreased their price target on Allstate from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Friday. B. Riley reiterated a “neutral” rating on shares of Allstate in a research note on Monday, November 6th. Bank of America decreased their price target on Allstate from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, Wells Fargo & Co set a $100.00 price target on Allstate and gave the company a “hold” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $97.33.

Allstate (ALL) traded up $0.52 during trading on Friday, reaching $95.04. The company’s stock had a trading volume of 2,565,400 shares, compared to its average volume of 2,895,991. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.25. Allstate has a 52 week low of $79.09 and a 52 week high of $105.36. The stock has a market capitalization of $33,739.20, a PE ratio of 11.35, a PEG ratio of 1.36 and a beta of 0.97.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.94%. This is a boost from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, March 2nd. Allstate’s dividend payout ratio (DPR) is presently 17.68%.

Several large investors have recently made changes to their positions in ALL. Gotham Asset Management LLC grew its holdings in Allstate by 20.1% during the second quarter. Gotham Asset Management LLC now owns 5,389 shares of the insurance provider’s stock worth $477,000 after acquiring an additional 903 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Allstate by 53.5% during the second quarter. Cubist Systematic Strategies LLC now owns 6,707 shares of the insurance provider’s stock worth $593,000 after acquiring an additional 2,338 shares during the period. Advisory Services Network LLC grew its holdings in Allstate by 10.8% during the second quarter. Advisory Services Network LLC now owns 2,798 shares of the insurance provider’s stock worth $247,000 after acquiring an additional 273 shares during the period. PGGM Investments grew its holdings in Allstate by 71.4% during the third quarter. PGGM Investments now owns 647,271 shares of the insurance provider’s stock worth $59,491,000 after acquiring an additional 269,633 shares during the period. Finally, Hermes Investment Management Ltd. grew its holdings in Allstate by 22.1% during the third quarter. Hermes Investment Management Ltd. now owns 276,718 shares of the insurance provider’s stock worth $25,433,000 after acquiring an additional 50,022 shares during the period. Hedge funds and other institutional investors own 76.65% of the company’s stock.

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Allstate Company Profile

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

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Earnings History and Estimates for Allstate (NYSE:ALL)

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