Allstate (NYSE:ALL) Issues Earnings Results, Beats Expectations By $1.02 EPS

Allstate (NYSE:ALL) released its quarterly earnings data on Wednesday. The insurance provider reported $5.13 earnings per share for the quarter, beating the consensus estimate of $4.11 by $1.02, Briefing.com reports. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.30) EPS.

Allstate Stock Performance

Allstate stock traded down $1.00 during midday trading on Friday, reaching $168.18. The stock had a trading volume of 1,668,295 shares, compared to its average volume of 1,508,644. The firm has a market capitalization of $44.39 billion, a PE ratio of 37.13, a P/E/G ratio of 0.40 and a beta of 0.51. Allstate has a 12 month low of $100.57 and a 12 month high of $177.37. The company has a quick ratio of 0.37, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $165.88 and its 200 day moving average price is $150.65.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. Allstate’s payout ratio is presently 81.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ALL shares. Piper Sandler lifted their target price on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price objective on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. UBS Group raised their target price on Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. BMO Capital Markets upped their price objective on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Finally, Evercore ISI increased their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.18.

Insider Activity at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

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.