B. Riley Weighs in on Allstate Corp’s FY2017 Earnings (ALL)

Allstate Corp (NYSE:ALL) – B. Riley dropped their FY2017 EPS estimates for Allstate in a report released on Thursday. B. Riley analyst R. Binner now anticipates that the insurance provider will post earnings per share of $6.34 for the year, down from their prior forecast of $6.60. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for Allstate’s Q4 2017 earnings at $1.72 EPS.

ALL has been the subject of several other reports. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. UBS Group lifted their price objective on Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Citigroup decreased their price objective on Allstate from $107.00 to $106.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Keefe, Bruyette & Woods downgraded Allstate from a “market perform” rating to an “underperform” rating in a report on Tuesday. Finally, Goldman Sachs Group began coverage on Allstate in a report on Monday, December 4th. They issued a “neutral” rating and a $104.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Allstate currently has an average rating of “Hold” and an average target price of $96.43.

Shares of Allstate (NYSE ALL) opened at $101.87 on Friday. Allstate has a 52-week low of $73.04 and a 52-week high of $105.36. The firm has a market capitalization of $36,550.00, a price-to-earnings ratio of 14.15, a PEG ratio of 1.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 1st. The insurance provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). Allstate had a return on equity of 13.11% and a net margin of 7.32%. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.48 annualized dividend and a dividend yield of 1.45%. Allstate’s payout ratio is currently 20.56%.

In other Allstate news, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the transaction, the executive vice president now owns 24,341 shares in the company, valued at $2,446,027.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas J. Wilson sold 195,000 shares of Allstate stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $99.13, for a total value of $19,330,350.00. The disclosure for this sale can be found here. Insiders sold 432,242 shares of company stock valued at $42,827,931 over the last 90 days. 1.58% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Allstate by 1.5% in the second quarter. BlackRock Inc. now owns 26,847,576 shares of the insurance provider’s stock valued at $2,374,397,000 after purchasing an additional 389,249 shares during the last quarter. Vanguard Group Inc. grew its stake in Allstate by 2.4% in the second quarter. Vanguard Group Inc. now owns 24,213,610 shares of the insurance provider’s stock valued at $2,141,452,000 after purchasing an additional 575,645 shares during the last quarter. Northern Trust Corp grew its stake in Allstate by 18.8% in the second quarter. Northern Trust Corp now owns 7,202,273 shares of the insurance provider’s stock valued at $636,969,000 after purchasing an additional 1,141,782 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Allstate by 11.1% during the third quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock worth $475,991,000 after acquiring an additional 518,058 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Allstate by 2.8% during the second quarter. Alliancebernstein L.P. now owns 4,605,659 shares of the insurance provider’s stock worth $407,324,000 after acquiring an additional 125,560 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

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Allstate 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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