Zacks: Analysts Anticipate Allstate Corporation (The) (ALL) Will Announce Quarterly Sales of $8.42 Billion

Wall Street brokerages forecast that Allstate Corporation (The) (NYSE:ALL) will report sales of $8.42 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Allstate Corporation (The)’s earnings, with estimates ranging from $8.27 billion to $8.79 billion. Allstate Corporation (The) posted sales of $9.14 billion in the same quarter last year, which suggests a negative year over year growth rate of 7.9%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, August 1st.

According to Zacks, analysts expect that Allstate Corporation (The) will report full year sales of $8.42 billion for the current fiscal year, with estimates ranging from $33.32 billion to $37.40 billion. For the next year, analysts anticipate that the business will report sales of $35.72 billion per share, with estimates ranging from $34.24 billion to $38.47 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Allstate Corporation (The).

Allstate Corporation (The) (NYSE:ALL) last posted its earnings results on Wednesday, May 3rd. The insurance provider reported $1.64 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.60. Allstate Corporation (The) had a net margin of 6.27% and a return on equity of 11.45%. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.36 billion.

A number of research analysts recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 price target (up previously from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday. Barclays PLC decreased their price target on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research note on Saturday, June 24th. BidaskClub upgraded shares of Allstate Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price target on shares of Allstate Corporation (The) in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Allstate Corporation (The) currently has a consensus rating of “Buy” and an average target price of $87.00.

Allstate Corporation (NYSE:ALL) traded up 0.16% during midday trading on Friday, reaching $88.86. 202,180 shares of the company were exchanged. The company has a market capitalization of $32.39 billion, a PE ratio of 15.07 and a beta of 1.10. The firm has a 50-day moving average price of $86.83 and a 200-day moving average price of $80.91. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $90.74.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 5th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.67%. Allstate Corporation (The)’s dividend payout ratio is presently 25.00%.

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In other news, insider Harriet K. Harty sold 7,228 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $88.35, for a total transaction of $638,593.80. Following the completion of the sale, the insider now owns 18,260 shares in the company, valued at approximately $1,613,271. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Samuel H. Pilch sold 8,582 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $83.88, for a total transaction of $719,858.16. Following the sale, the vice president now owns 35,875 shares of the company’s stock, valued at approximately $3,009,195. The disclosure for this sale can be found here. Insiders have sold a total of 165,157 shares of company stock valued at $14,191,466 in the last 90 days. Insiders own 1.58% of the company’s stock.

Several hedge funds have recently modified their holdings of ALL. BlackRock Inc. increased its stake in Allstate Corporation (The) by 2,743.3% in the first quarter. BlackRock Inc. now owns 26,458,327 shares of the insurance provider’s stock valued at $2,156,089,000 after buying an additional 25,527,763 shares during the period. Victory Capital Management Inc. increased its stake in Allstate Corporation (The) by 246.3% in the first quarter. Victory Capital Management Inc. now owns 2,080,446 shares of the insurance provider’s stock valued at $169,536,000 after buying an additional 1,479,694 shares during the period. Ameriprise Financial Inc. increased its stake in Allstate Corporation (The) by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 3,961,953 shares of the insurance provider’s stock valued at $322,883,000 after buying an additional 1,258,952 shares during the period. Bank of New York Mellon Corp increased its stake in Allstate Corporation (The) by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,756,094 shares of the insurance provider’s stock valued at $387,575,000 after buying an additional 792,583 shares during the period. Finally, Vanguard Group Inc. increased its stake in Allstate Corporation (The) by 3.2% in the first quarter. Vanguard Group Inc. now owns 23,637,965 shares of the insurance provider’s stock valued at $1,926,258,000 after buying an additional 733,684 shares during the period. Institutional investors and hedge funds own 76.32% of the company’s stock.

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.

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

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