Allstate (NYSE:ALL) Releases Earnings Results

Allstate (NYSE:ALL) issued its earnings results on Wednesday. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71, Briefing.com reports. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share.

Allstate Stock Performance

Shares of ALL traded down $2.92 during midday trading on Thursday, hitting $186.52. 3,914,838 shares of the stock traded hands, compared to its average volume of 1,546,867. The business’s 50 day moving average price is $188.69 and its two-hundred day moving average price is $174.95. The firm has a market capitalization of $49.23 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 1-year low of $125.63 and a 1-year high of $198.79.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALL shares. Morgan Stanley lifted their price objective on shares of Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Piper Sandler boosted their price target on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Bank of America raised their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group increased their target price on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.19.

Insider Buying and Selling

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,530 shares of company stock valued at $34,967,665 in the last quarter. Company insiders own 1.80% of the company’s stock.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.