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

Analysts expect Allstate Corp (NYSE:ALL) to report $8.56 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Allstate’s earnings, with the highest sales estimate coming in at $8.59 billion and the lowest estimate coming in at $8.53 billion. Allstate reported sales of $9.56 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 10.5%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 31st.

According to Zacks, 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 report sales of $35.67 billion, with estimates ranging from $35.34 billion to $35.97 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Allstate.

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

Several research analysts have issued reports on ALL shares. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Monday, August 27th. Credit Suisse Group dropped their price target on Allstate from $114.00 to $112.00 and set a “buy” rating on the stock in a report on Tuesday, August 28th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Allstate in a report on Thursday, August 16th. B. Riley upped their price target on Allstate from $88.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Finally, Buckingham Research raised Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target on the stock in a report on Wednesday, July 18th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $104.62.

In other Allstate news, EVP Susan L. Lees sold 22,189 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total transaction of $2,202,036.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Glenn T. Shapiro sold 21,728 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $98.70, for a total transaction of $2,144,553.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,432 shares of company stock worth $5,386,208. Company insiders own 1.40% of the company’s stock.

A number of large investors have recently made changes to their positions in ALL. Private Capital Group LLC raised its stake in Allstate by 195.5% during the 1st quarter. Private Capital Group LLC now owns 1,182 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 782 shares during the period. Kiley Juergens Wealth Management LLC purchased a new position in shares of Allstate during the 2nd quarter valued at $124,000. Cornerstone Wealth Management LLC purchased a new position in shares of Allstate during the 3rd quarter valued at $146,000. Summit Trail Advisors LLC grew its holdings in shares of Allstate by 11,436.6% during the 1st quarter. Summit Trail Advisors LLC now owns 147,438 shares of the insurance provider’s stock valued at $147,000 after acquiring an additional 146,160 shares in the last quarter. Finally, Denali Advisors LLC purchased a new position in shares of Allstate during the 3rd quarter valued at $158,000. 76.23% of the stock is currently owned by institutional investors.

Shares of NYSE ALL traded up $0.71 during trading on Friday, hitting $97.32. The company had a trading volume of 2,383,500 shares, compared to its average volume of 2,078,643. The stock has a market capitalization of $33.15 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.24 and a beta of 0.91. Allstate has a 52 week low of $88.29 and a 52 week high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, August 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, August 30th. Allstate’s dividend payout ratio (DPR) is currently 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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