Allstate (NYSE:ALL) Issues Earnings Results, Misses Estimates By $0.21 EPS

Allstate (NYSE:ALLGet Rating) announced its quarterly earnings results on Wednesday. The insurance provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21), Briefing.com reports. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $11.14 billion. Allstate had a net margin of 3.16% and a return on equity of 16.60%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.11 EPS.

ALL stock opened at $131.58 on Friday. Allstate has a 52 week low of $106.11 and a 52 week high of $144.46. The business has a 50-day simple moving average of $133.45 and a 200 day simple moving average of $123.98. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.34. The company has a market cap of $36.63 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 2.49 and a beta of 0.82.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Monday, February 28th were given a $0.85 dividend. The ex-dividend date of this dividend was Friday, February 25th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Allstate’s previous quarterly dividend of $0.81. Allstate’s dividend payout ratio (DPR) is presently 28.48%.

In other Allstate news, CAO John C. Pintozzi sold 3,000 shares of the stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $123.87, for a total transaction of $371,610.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.56% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC raised its position in Allstate by 16.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 18,581 shares of the insurance provider’s stock valued at $2,186,000 after purchasing an additional 2,628 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Allstate by 3.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 11,752 shares of the insurance provider’s stock valued at $1,383,000 after purchasing an additional 405 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Allstate during the 4th quarter worth $1,306,000. Penserra Capital Management LLC lifted its position in shares of Allstate by 36.2% during the 4th quarter. Penserra Capital Management LLC now owns 6,237 shares of the insurance provider’s stock worth $758,000 after buying an additional 1,659 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Allstate by 5.1% in the fourth quarter. Belpointe Asset Management LLC now owns 3,775 shares of the insurance provider’s stock valued at $444,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

Several equities research analysts recently issued reports on ALL shares. StockNews.com initiated coverage on shares of Allstate in a research note on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group raised Allstate from a “sell” rating to a “buy” rating and raised their price objective for the company from $111.00 to $142.00 in a research report on Wednesday, March 2nd. Piper Sandler decreased their target price on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Credit Suisse Group began coverage on shares of Allstate in a research note on Thursday, April 28th. They issued an “outperform” rating and a $188.00 price target on the stock. Finally, UBS Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $126.00 to $149.00 in a research report on Monday, February 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.21.

Allstate Company Profile (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Earnings History for Allstate (NYSE:ALL)

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