FY2017 Earnings Estimate for Allstate Corporation (The) Issued By Langen Mcalenn (ALL)

  • Earnings
  • 03/11/2017
Allstate Corporation (The) (NYSE:ALL) Equities researchers at Langen Mcalenn lifted their FY2017 EPS estimates for Allstate Corporation (The) in a research note issued to investors on Friday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will post earnings per share of $5.95 for the year, up from their previous estimate of $5.60. Langen Mcalenn also issued estimates for Allstate Corporation (The)s Q3 2018 earnings at $1.25 EPS.

Allstate Corporation (The) (NYSE:ALL) last posted its quarterly earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion for the quarter, compared to analyst estimates of $7.99 billion. Allstate Corporation (The) had a net margin of 7.02% and a return on equity of 12.73%. The firms revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS.

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A number of other analysts have also weighed in on ALL. Citigroup Inc. decreased their target price on shares of Allstate Corporation (The) from $107.00 to $106.00 and set a buy rating on the stock in a report on Monday, October 2nd. BidaskClub lowered shares of Allstate Corporation (The) from a buy rating to a hold rating in a report on Wednesday, August 16th. Wells Fargo & Company set a $105.00 target price on shares of Allstate Corporation (The) and gave the stock a buy rating in a report on Thursday, October 19th. Deutsche Bank AG lowered shares of Allstate Corporation (The) from a buy rating to a hold rating and upped their target price for the stock from $90.00 to $96.00 in a report on Tuesday, August 8th. Finally, UBS AG decreased their target price on shares of Allstate Corporation (The) from $94.00 to $93.00 and set a neutral rating on the stock in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the companys stock. Allstate Corporation (The) has an average rating of Hold and a consensus price target of $91.62.

Allstate Corporation (NYSE:ALL) traded down 0.29% during mid-day trading on Monday, hitting $93.37. 163,690 shares of the company traded hands. The firm has a market capitalization of $33.74 billion, a P/E ratio of 13.79 and a beta of 1.08. The firm has a 50 day moving average of $91.42 and a 200 day moving average of $88.67. Allstate Corporation has a one year low of $66.55 and a one year high of $95.25.

Allstate Corporation (The) announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to buy up to 63% of its shares through open market purchases. Shares buyback plans are generally a sign that the companys leadership believes its stock is undervalued.

In other news, EVP Susan L. Lees sold 12,288 shares of the companys stock in a transaction on Friday, August 4th. The shares were sold at an average price of $94.09, for a total value of $1,156,177.92. Following the completion of the sale, the executive vice president now owns 73,511 shares of the companys stock, valued at approximately $6,916,649.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Shebik sold 35,197 shares of the companys stock in a transaction on Monday, August 7th. The shares were sold at an average price of $94.28, for a total transaction of $3,318,373.16. Following the completion of the sale, the chief financial officer now directly owns 127,560 shares of the companys stock, valued at approximately $12,026,356.80. The disclosure for this sale can be found here. Insiders sold a total of 95,544 shares of company stock valued at $9,017,568 in the last ninety days. 1.58% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ALL. Dynamic Technology Lab Private Ltd purchased a new stake in Allstate Corporation (The) during the 1st quarter valued at $677,000. Westpac Banking Corp boosted its position in Allstate Corporation (The) by 7.0% during the 1st quarter. Westpac Banking Corp now owns 236,644 shares of the insurance providers stock valued at $18,726,000 after buying an additional 15,508 shares during the period. Comerica Securities Inc. boosted its position in Allstate Corporation (The) by 187.9% during the 1st quarter. Comerica Securities Inc. now owns 12,404 shares of the insurance providers stock valued at $1,011,000 after buying an additional 8,095 shares during the period. AXA boosted its position in Allstate Corporation (The) by 2.8% during the 1st quarter. AXA now owns 30,224 shares of the insurance providers stock valued at $2,462,000 after buying an additional 824 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Allstate Corporation (The) by 2.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 868,612 shares of the insurance providers stock valued at $70,783,000 after buying an additional 19,013 shares during the period. 75.92% of the stock is owned by institutional investors and hedge funds.

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Companys 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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