Allstate (NYSE:ALL) Releases Earnings Results

Allstate (NYSE:ALL) announced its earnings results on Wednesday. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69, Zacks reports. The company had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.91 earnings per share.

Allstate Stock Performance

Shares of ALL stock opened at $197.91 on Friday. The stock has a market cap of $52.15 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The stock has a 50-day moving average of $201.89 and a 200-day moving average of $201.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. Allstate has a one year low of $176.00 and a one year high of $215.70.

Institutional Investors Weigh In On Allstate

Several large investors have recently bought and sold shares of the company. WFA of San Diego LLC bought a new position in shares of Allstate during the second quarter worth $134,000. MUFG Securities EMEA plc acquired a new stake in Allstate during the 2nd quarter worth $157,000. CTC Alternative Strategies Ltd. bought a new position in Allstate during the second quarter worth about $201,000. WINTON GROUP Ltd bought a new position in Allstate during the second quarter worth about $210,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Allstate in the second quarter valued at about $214,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI set a $233.00 price objective on Allstate and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Raymond James Financial restated a “strong-buy” rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Morgan Stanley raised their price target on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Roth Capital set a $230.00 price objective on Allstate and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Wells Fargo & Company cut their target price on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.27.

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.