Allstate (NYSE:ALL) Announces Quarterly Earnings Results, Beats Estimates By $1.71 EPS

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

Allstate Trading Down 1.5 %

Shares of ALL stock traded down $2.92 during trading hours on Thursday, hitting $186.52. The company had a trading volume of 3,902,110 shares, compared to its average volume of 1,546,806. The company’s fifty day moving average is $188.69 and its 200 day moving average is $174.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. Allstate has a fifty-two week low of $125.63 and a fifty-two week high of $198.79. The stock 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.

Analyst Upgrades and Downgrades

ALL has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Allstate from $202.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. BMO Capital Markets boosted their price target on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler upped their price target on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $207.19.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at approximately $15,880,915.68. 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 worth $34,967,665 in the last ninety days. 1.80% of the stock is 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.