The Allstate Co. (NYSE:ALL) – Equities research analysts at Piper Sandler lowered their Q3 2021 earnings per share estimates for The Allstate in a research note issued to investors on Thursday, September 16th. Piper Sandler analyst P. Newsome now forecasts that the insurance provider will post earnings of $1.47 per share for the quarter, down from their previous estimate of $1.97. Piper Sandler currently has a “Overweight” rating and a $150.00 target price on the stock.
The Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, August 3rd. The insurance provider reported $3.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.17 by $0.62. The Allstate had a return on equity of 22.27% and a net margin of 8.27%. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year.
ALL stock opened at $129.60 on Monday. The firm has a 50 day moving average of $132.47 and a 200-day moving average of $128.68. The Allstate has a 12-month low of $86.51 and a 12-month high of $140.00. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $38.32 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.09 and a beta of 0.86.
The Allstate announced that its board has initiated a share repurchase program on Wednesday, August 4th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 13% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Tuesday, August 31st will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Monday, August 30th. The Allstate’s dividend payout ratio is presently 22.00%.
Large investors have recently modified their holdings of the stock. Wagner Wealth Management LLC purchased a new stake in shares of The Allstate in the 2nd quarter valued at approximately $31,000. Eagle Bay Advisors LLC purchased a new stake in The Allstate in the 2nd quarter worth approximately $32,000. Heritage Wealth Management LLC lifted its position in The Allstate by 88.9% in the 2nd quarter. Heritage Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $33,000 after buying an additional 120 shares in the last quarter. Burleson & Company LLC purchased a new stake in The Allstate in the 1st quarter worth approximately $35,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in The Allstate in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 75.00% of the company’s stock.
The Allstate Company Profile
The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.
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