Allstate Corp. (NYSE:ALL) – Stock analysts at FBR & Co cut their FY2016 EPS estimates for Allstate Corp. in a report released on Tuesday. FBR & Co analyst R. Binner now anticipates that the firm will earn $4.35 per share for the year, down from their previous estimate of $4.45.
Allstate Corp. (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $8.14 billion. Allstate Corp. had a net margin of 4.63% and a return on equity of 9.94%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Several other research analysts have also recently issued reports on ALL. Credit Suisse Group AG set a $73.00 price objective on Allstate Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Argus reiterated a “buy” rating and issued a $76.00 price objective on shares of Allstate Corp. in a research report on Friday, September 2nd. Deutsche Bank AG increased their price objective on Allstate Corp. from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Allstate Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $79.00 price objective (up previously from $74.00) on shares of Allstate Corp. in a research report on Friday, September 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 72.08 ($0.88).
Shares of Allstate Corp. (NYSE:ALL) traded down 0.12% on Wednesday, hitting $69.21. 739,856 shares of the stock traded hands. Allstate Corp. has a 12 month low of $56.03 and a 12 month high of $70.38. The firm’s 50 day moving average is $68.56 and its 200-day moving average is $67.97. The company has a market cap of $25.71 billion, a PE ratio of 17.43 and a beta of 0.95.
In other Allstate Corp. news, insider Harriet K. Harty sold 6,779 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of GBX 68.64 ($0.84), for a total value of £4,653.11 ($5,671.06). Following the sale, the insider now directly owns 12,316 shares of the company’s stock, valued at approximately £8,453.70 ($10,303.11). The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Steven E. Shebik sold 41,334 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of GBX 68.86 ($0.84), for a total value of £28,462.59 ($34,689.33). Following the completion of the sale, the chief financial officer now directly owns 102,959 shares in the company, valued at £70,897.57 ($86,407.76). The disclosure for this sale can be found here. Corporate insiders own 1.58% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Feltz Wealth PLAN Inc. acquired a new stake in shares of Allstate Corp. during the second quarter worth about $105,000. Pinkerton Retirement Specialists LLC raised its stake in shares of Allstate Corp. by 654.6% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,645 shares of the company’s stock worth $115,000 after buying an additional 1,427 shares during the last quarter. Zions Bancorporation raised its stake in shares of Allstate Corp. by 64.1% in the second quarter. Zions Bancorporation now owns 2,089 shares of the company’s stock worth $146,000 after buying an additional 816 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Allstate Corp. by 9.2% in the second quarter. Integrated Investment Consultants LLC now owns 2,483 shares of the company’s stock worth $174,000 after buying an additional 209 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of Allstate Corp. by 12.2% in the third quarter. Advisory Services Network LLC now owns 2,774 shares of the company’s stock worth $192,000 after buying an additional 301 shares during the last quarter. 76.36% of the stock is currently owned by hedge funds and other institutional investors.
Allstate Corp. Company Profile
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business.
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