Allstate Corp (ALL) Expected to Post Quarterly Sales of $8.56 Billion

Wall Street analysts predict that Allstate Corp (NYSE:ALL) will post $8.56 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Allstate’s earnings. The lowest sales estimate is $8.53 billion and the highest is $8.59 billion. Allstate posted sales of $9.56 billion during the same quarter last year, which suggests a negative year over year growth rate of 10.5%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Allstate will report full year sales of $34.14 billion for the current year, with estimates ranging from $34.04 billion to $34.23 billion. For the next financial year, analysts expect that the business will post sales of $35.67 billion per share, with estimates ranging from $35.34 billion to $35.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Allstate.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.53 billion. Allstate had a net margin of 9.06% and a return on equity of 15.21%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS.

ALL has been the subject of a number of recent research reports. ValuEngine upgraded shares of Allstate from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Buckingham Research upgraded shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price objective for the company in a research note on Wednesday, July 18th. Citigroup reduced their price objective on shares of Allstate from $108.00 to $107.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Finally, B. Riley increased their price objective on shares of Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Allstate currently has a consensus rating of “Hold” and a consensus target price of $103.92.

In related news, insider Glenn T. Shapiro sold 21,728 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $98.70, for a total value of $2,144,553.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan L. Lees sold 22,189 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total transaction of $2,202,036.36. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Allstate by 24.7% in the 2nd quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock valued at $373,917,000 after purchasing an additional 811,694 shares during the last quarter. Farmers National Bank lifted its stake in Allstate by 70.5% in the 2nd quarter. Farmers National Bank now owns 6,440 shares of the insurance provider’s stock valued at $588,000 after purchasing an additional 2,662 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its stake in Allstate by 9,026.9% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 34,226 shares of the insurance provider’s stock valued at $375,000 after purchasing an additional 33,851 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Allstate by 16.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 11,202 shares of the insurance provider’s stock valued at $1,022,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Wilsey Asset Management Inc. lifted its stake in Allstate by 2.2% in the 2nd quarter. Wilsey Asset Management Inc. now owns 140,823 shares of the insurance provider’s stock valued at $12,857,000 after purchasing an additional 3,043 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.

Shares of Allstate stock traded up $0.94 during trading hours on Monday, reaching $99.99. 1,340,573 shares of the company’s stock were exchanged, compared to its average volume of 1,675,437. Allstate has a fifty-two week low of $88.29 and a fifty-two week high of $105.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $33.79 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.24 and a beta of 0.92.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.84%. Allstate’s dividend payout ratio is 27.42%.

About Allstate

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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