Allstate (NYSE:ALL) Announces Quarterly Earnings Results

Allstate (NYSE:ALL) issued its earnings results on Wednesday. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59, FiscalAI reports. Allstate had a net margin of 12.53% and a return on equity of 35.42%.

Allstate Price Performance

ALL stock traded up $5.28 during trading on Wednesday, hitting $207.05. The stock had a trading volume of 2,420,622 shares, compared to its average volume of 1,852,239. The stock has a market cap of $54.18 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The company’s 50 day moving average price is $204.11 and its two-hundred day moving average price is $203.58. Allstate has a 1-year low of $176.00 and a 1-year high of $215.89.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, December 1st. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 48,400 shares of company stock valued at $10,313,256 over the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALL. Brighton Jones LLC increased its stake in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Allstate in the 4th quarter valued at about $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate during the 2nd quarter valued at about $210,000. Treasurer of the State of North Carolina boosted its position in shares of Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock worth $24,816,000 after acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALL. BMO Capital Markets upped their target price on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Mizuho set a $255.00 price target on Allstate in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research note on Wednesday, January 21st. William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Finally, Zacks Research cut Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.19.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.