FBR & Co Weighs in on Allstate Corporation (The)’s Q2 2017 Earnings (ALL)

Allstate Corporation (The) (NYSE:ALL) – Research analysts at FBR & Co lowered their Q2 2017 earnings estimates for shares of Allstate Corporation (The) in a report released on Tuesday. FBR & Co analyst R. Binner now anticipates that the insurance provider will post earnings per share of $1.04 for the quarter, down from their previous forecast of $1.28. FBR & Co has a “Mkt Perform” rating and a $82.00 price objective on the stock. FBR & Co also issued estimates for Allstate Corporation (The)’s FY2017 earnings at $6.25 EPS.

Allstate Corporation (The) (NYSE:ALL) last issued its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.60. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Allstate Corporation (The) had a return on equity of 11.45% and a net margin of 6.27%. COPYRIGHT VIOLATION NOTICE: This report was originally posted by BBNS and is owned by of BBNS. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://baseballnewssource.com/markets/fbr-co-weighs-in-on-allstate-corporation-thes-q2-2017-earnings-all-updated-updated-updated/1197769.html.

ALL has been the subject of several other reports. Zacks Investment Research cut Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. MKM Partners reissued a “buy” rating and set a $100.00 target price (up from $90.00) on shares of Allstate Corporation (The) in a research note on Thursday, May 4th. Citigroup Inc. boosted their target price on Allstate Corporation (The) from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, April 7th. Morgan Stanley reissued an “equal weight” rating and set a $91.00 target price (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Finally, BidaskClub raised Allstate Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Allstate Corporation (The) has an average rating of “Buy” and a consensus target price of $87.67.

Shares of Allstate Corporation (NYSE ALL) opened at 88.60 on Thursday. The company’s 50 day moving average price is $86.83 and its 200-day moving average price is $80.91. Allstate Corporation has a 52 week low of $66.55 and a 52 week high of $90.74. The stock has a market capitalization of $32.30 billion, a PE ratio of 15.02 and a beta of 1.10.

Several hedge funds have recently bought and sold shares of ALL. Intrust Bank NA increased its stake in Allstate Corporation (The) by 0.3% in the first quarter. Intrust Bank NA now owns 7,540 shares of the insurance provider’s stock valued at $615,000 after buying an additional 23 shares during the last quarter. CAPROCK Group Inc. increased its stake in Allstate Corporation (The) by 0.6% in the first quarter. CAPROCK Group Inc. now owns 4,567 shares of the insurance provider’s stock valued at $372,000 after buying an additional 28 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in Allstate Corporation (The) by 1.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,709 shares of the insurance provider’s stock valued at $219,000 after buying an additional 35 shares during the last quarter. Buckingham Asset Management LLC increased its stake in Allstate Corporation (The) by 1.2% in the first quarter. Buckingham Asset Management LLC now owns 3,897 shares of the insurance provider’s stock valued at $318,000 after buying an additional 45 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Allstate Corporation (The) by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 4,431 shares of the insurance provider’s stock valued at $350,000 after buying an additional 55 shares during the last quarter. 76.27% of the stock is owned by institutional investors and hedge funds.

In other news, insider Sanjay Gupta sold 16,578 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $90.74, for a total value of $1,504,287.72. Following the completion of the sale, the insider now directly owns 68,780 shares of the company’s stock, valued at approximately $6,241,097.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harriet K. Harty sold 7,228 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $88.35, for a total value of $638,593.80. Following the completion of the sale, the insider now directly owns 18,260 shares of the company’s stock, valued at $1,613,271. The disclosure for this sale can be found here. Insiders have sold a total of 165,157 shares of company stock valued at $14,191,466 over the last ninety days. 1.58% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s dividend payout ratio (DPR) is 25.00%.

Allstate Corporation (The) Company Profile

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

Earnings History and Estimates for Allstate Corporation (The) (NYSE:ALL)

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