Allstate (NYSE:ALL) Issues Earnings Results, Beats Estimates By $3.12 EPS

Allstate (NYSE:ALL) issued its quarterly earnings data on Wednesday. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.53 by $3.12, FiscalAI reports. The business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $14.95 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $3.53 EPS.

Allstate Trading Up 2.2%

Allstate stock traded up $4.71 during mid-day trading on Thursday, hitting $217.04. 864,788 shares of the stock were exchanged, compared to its average volume of 1,585,692. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Allstate has a 12 month low of $188.08 and a 12 month high of $219.48. The firm’s fifty day simple moving average is $210.07 and its two-hundred day simple moving average is $205.79. The stock has a market capitalization of $56.04 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.44 and a beta of 0.22.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is 11.31%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Barclays raised their price objective on shares of Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. TD Cowen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $238.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALL. Brighton Jones LLC lifted its stake in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new position in shares of Allstate in the 4th quarter valued at about $231,000. WINTON GROUP Ltd acquired a new position in shares of Allstate in the 2nd quarter valued at about $210,000. Treasurer of the State of North Carolina lifted its stake in shares of Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after purchasing an additional 3,051 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Allstate by 20.1% in the 2nd quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.