Allstate Corp to Post Q4 2018 Earnings of $2.17 Per Share, Langen Mcalenn Forecasts (ALL)

Allstate Corp (NYSE:ALL) – Analysts at Langen Mcalenn reduced their Q4 2018 EPS estimates for Allstate in a research report issued to clients and investors on Friday, November 2nd. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings of $2.17 per share for the quarter, down from their previous forecast of $2.32. Langen Mcalenn also issued estimates for Allstate’s Q1 2019 earnings at $2.66 EPS, Q2 2019 earnings at $1.60 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $2.78 EPS and FY2019 earnings at $8.90 EPS.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.21 by ($0.28). The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.51 billion. Allstate had a net margin of 9.38% and a return on equity of 15.48%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.60 earnings per share.

Several other research analysts have also commented on ALL. ValuEngine lowered Allstate from a “hold” rating to a “sell” rating in a research report on Thursday. Wells Fargo & Co set a $100.00 price target on Allstate and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Bank of America reduced their price target on Allstate from $113.00 to $110.00 and set a “buy” rating for the company in a research report on Friday. Citigroup reduced their price target on Allstate from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday. Finally, B. Riley boosted their price target on Allstate from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $103.77.

ALL opened at $89.55 on Monday. The firm has a market capitalization of $30.84 billion, a PE ratio of 13.35, a P/E/G ratio of 1.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26. Allstate has a 12 month low of $88.29 and a 12 month high of $105.36.

Large investors have recently made changes to their positions in the stock. BP PLC grew its stake in Allstate by 11.4% during the 3rd quarter. BP PLC now owns 156,000 shares of the insurance provider’s stock valued at $15,396,000 after purchasing an additional 16,000 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Allstate during the 3rd quarter valued at about $5,498,000. FineMark National Bank & Trust grew its stake in Allstate by 96.9% during the 3rd quarter. FineMark National Bank & Trust now owns 15,020 shares of the insurance provider’s stock valued at $1,482,000 after purchasing an additional 7,392 shares during the last quarter. WINTON GROUP Ltd grew its stake in Allstate by 103.8% during the 3rd quarter. WINTON GROUP Ltd now owns 129,942 shares of the insurance provider’s stock valued at $12,825,000 after purchasing an additional 66,173 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. grew its stake in Allstate by 7.7% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 27,946 shares of the insurance provider’s stock valued at $2,758,000 after purchasing an additional 2,008 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors.

In related news, EVP Harriet K. Harty sold 10,515 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares of the company’s stock, valued at approximately $1,444,095.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Susan L. Lees sold 22,189 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total value of $2,202,036.36. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Earnings History and Estimates for Allstate (NYSE:ALL)

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