The Allstate Co. (NYSE:ALL) – Equities research analysts at Piper Sandler raised their Q2 2021 earnings per share estimates for shares of The Allstate in a research note issued to investors on Thursday, June 17th. Piper Sandler analyst P. Newsome now expects that the insurance provider will post earnings per share of $3.66 for the quarter, up from their prior estimate of $2.73. Piper Sandler has a “Overweight” rating and a $150.00 price objective on the stock. Piper Sandler also issued estimates for The Allstate’s FY2021 earnings at $16.12 EPS.
The Allstate (NYSE:ALL) last released its earnings results on Tuesday, May 4th. The insurance provider reported $6.11 EPS for the quarter, beating the Zacks’ consensus estimate of $3.88 by $2.23. The business had revenue of $10.31 billion for the quarter, compared to analysts’ expectations of $10.37 billion. The Allstate had a return on equity of 21.16% and a net margin of 7.73%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.54 earnings per share.
Shares of ALL opened at $128.50 on Monday. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.07 and a beta of 0.85. The Allstate has a 1 year low of $84.97 and a 1 year high of $140.00. The stock has a 50 day moving average price of $131.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.47 and a current ratio of 0.47.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of The Allstate by 5.8% in the first quarter. BlackRock Inc. now owns 27,194,818 shares of the insurance provider’s stock worth $3,124,684,000 after buying an additional 1,497,120 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in The Allstate by 0.9% during the 1st quarter. Ameriprise Financial Inc. now owns 10,486,227 shares of the insurance provider’s stock valued at $1,204,992,000 after purchasing an additional 96,232 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of The Allstate by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 5,130,280 shares of the insurance provider’s stock worth $588,022,000 after purchasing an additional 95,427 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of The Allstate by 18.1% in the first quarter. UBS Asset Management Americas Inc. now owns 4,759,031 shares of the insurance provider’s stock worth $546,813,000 after purchasing an additional 728,870 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of The Allstate by 0.4% during the fourth quarter. Wells Fargo & Company MN now owns 3,678,614 shares of the insurance provider’s stock valued at $404,389,000 after purchasing an additional 15,469 shares in the last quarter. 74.69% of the stock is currently owned by institutional investors.
In related news, insider John E. Dugenske sold 151,691 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $135.28, for a total transaction of $20,520,758.48. Following the completion of the transaction, the insider now owns 118,444 shares of the company’s stock, valued at approximately $16,023,104.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mario Rizzo sold 12,763 shares of The Allstate stock in a transaction on Monday, May 10th. The shares were sold at an average price of $133.26, for a total value of $1,700,797.38. Following the transaction, the chief financial officer now owns 49,490 shares of the company’s stock, valued at approximately $6,595,037.40. The disclosure for this sale can be found here. Insiders have sold 227,111 shares of company stock worth $30,694,662 in the last three months. 1.56% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be given a dividend of $0.81 per share. The ex-dividend date is Thursday, June 3rd. This represents a $3.24 dividend on an annualized basis and a yield of 2.52%. The Allstate’s dividend payout ratio (DPR) is currently 22.00%.
The Allstate Company Profile
The Allstate Corporation, through 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 Life, and Allstate Benefits 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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