Allstate Corporation (The) to Post Q3 2017 Earnings of $0.50 Per Share, FBR & Co Forecasts (ALL)

Allstate Corporation (The) (NYSE:ALL) – FBR & Co issued their Q3 2017 earnings per share (EPS) estimates for shares of Allstate Corporation (The) in a note issued to investors on Tuesday. FBR & Co analyst R. Binner anticipates that the insurance provider will post earnings of $0.50 per share for the quarter.

Allstate Corporation (The) (NYSE:ALL) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. The firm had revenue of $8.02 billion during the quarter, compared to analyst estimates of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. COPYRIGHT VIOLATION NOTICE: This report was published by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/2956408/allstate-corporation-the-to-post-q3-2017-earnings-of-0-50-per-share-fbr-co-forecasts-all.html.

ALL has been the topic of a number of other reports. Wells Fargo & Company restated a “buy” rating on shares of Allstate Corporation (The) in a report on Tuesday, August 1st. BidaskClub cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $91.00 target price (up previously from $85.00) on shares of Allstate Corporation (The) in a research report on Thursday, July 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 target price on shares of Allstate Corporation (The) in a research report on Friday, June 16th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $94.00 target price (up previously from $86.00) on shares of Allstate Corporation (The) in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $90.50.

Allstate Corporation (ALL) opened at 92.54 on Thursday. The firm has a market capitalization of $33.44 billion, a price-to-earnings ratio of 13.67 and a beta of 1.08. The company has a 50-day moving average price of $91.05 and a 200 day moving average price of $87.94. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25.

Allstate Corporation (The) announced that its board has initiated a share repurchase plan on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 63% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

In related news, CFO Steven E. Shebik sold 35,197 shares of Allstate Corporation (The) stock in a transaction on Monday, August 7th. The stock was sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the completion of the sale, the chief financial officer now owns 127,560 shares of the company’s stock, valued at $12,026,356.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Matthew E. Winter sold 48,059 shares of Allstate Corporation (The) stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $94.53, for a total value of $4,543,017.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,602 shares of company stock valued at $13,272,624. Insiders own 1.58% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sandy Spring Bank boosted its position in Allstate Corporation (The) by 2.5% during the second quarter. Sandy Spring Bank now owns 1,165 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 28 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Allstate Corporation (The) by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,216 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 5 shares during the last quarter. IHT Wealth Management LLC boosted its position in Allstate Corporation (The) by 46.6% during the second quarter. IHT Wealth Management LLC now owns 1,275 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 405 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Allstate Corporation (The) during the first quarter valued at $122,000. Finally, Acrospire Investment Management LLC boosted its position in Allstate Corporation (The) by 33.2% during the second quarter. Acrospire Investment Management LLC now owns 1,598 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 398 shares during the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.

Allstate Corporation (The) 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.

Earnings History and Estimates for Allstate Corporation (The) (NYSE:ALL)

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