$8.56 Billion in Sales Expected for Allstate Corp (ALL) This Quarter
Wall Street brokerages expect Allstate Corp (NYSE:ALL) to announce $8.56 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Allstate’s earnings. The highest sales estimate is $8.59 billion and the lowest is $8.53 billion. Allstate reported sales of $9.56 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.5%. The company is expected to issue its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Allstate will report full year sales of $34.14 billion for the current fiscal year, with estimates ranging from $34.04 billion to $34.23 billion. For the next fiscal year, analysts expect that the business will post sales of $35.67 billion per share, with estimates ranging from $35.34 billion to $35.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Allstate.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.45. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.53 billion. Allstate had a return on equity of 15.21% and a net margin of 9.06%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS.
ALL stock traded up $0.34 during mid-day trading on Monday, reaching $100.33. 2,357,500 shares of the company traded hands, compared to its average volume of 2,124,216. The company has a market capitalization of $33.79 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.26. Allstate has a fifty-two week low of $88.29 and a fifty-two week high of $105.36.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, August 31st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.83%. Allstate’s dividend payout ratio is currently 27.42%.
In other Allstate news, EVP Susan L. Lees sold 22,189 shares of Allstate stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $99.24, for a total transaction of $2,202,036.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Glenn T. Shapiro sold 21,728 shares of Allstate stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $98.70, for a total transaction of $2,144,553.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,432 shares of company stock worth $5,386,208. Insiders own 1.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Boston Partners raised its holdings in shares of Allstate by 11.2% in the 2nd quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock worth $959,406,000 after purchasing an additional 1,061,730 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Allstate by 4.3% in the 2nd quarter. Macquarie Group Ltd. now owns 7,478,697 shares of the insurance provider’s stock worth $682,581,000 after purchasing an additional 305,110 shares during the period. LSV Asset Management raised its holdings in shares of Allstate by 3.0% in the 2nd quarter. LSV Asset Management now owns 5,409,081 shares of the insurance provider’s stock worth $493,686,000 after purchasing an additional 157,623 shares during the period. FMR LLC raised its holdings in shares of Allstate by 24.7% in the 2nd quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock worth $373,917,000 after purchasing an additional 811,694 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Allstate by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,599,343 shares of the insurance provider’s stock worth $246,412,000 after purchasing an additional 29,292 shares during the period. 76.21% of the stock is currently owned by hedge funds and other institutional investors.
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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