Allstate Corp (ALL) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $0.68. The company posted revenue of $7723.00 million in the period, compared to analysts expectations of $7765.30 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS.
Many Wall Street Analysts have commented on Allstate Corp. Allstate Corp was Upgraded by Citigroup to ” Buy” on Feb 5, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 5, 2016 to “Sector Perform” and Lowered the Price Target to $ 67 from a previous price target of $69 .
Allstate Corp opened for trading at $65.58 and hit $65.58 on the upside on Monday, eventually ending the session at $65.36, with a gain of 0.48% or 0.31 points. The heightened volatility saw the trading volume jump to 20,04,543 shares. Company has a market cap of $24,726 M.
In a different news, on Mar 30, 2016, Mary Alice Taylor (director) sold 3,300 shares at $66.92 per share price. According to the SEC, on Nov 9, 2015, Susan L Lees (EVP, General Counsel & Sec.) sold 3,038 shares at $63.22 per share price. On Nov 9, 2015, Steven E Shebik (EVP & Chief Financial Officer) sold 9,000 shares at $63.56 per share price, according to the Form-4 filing with the securities and exchange commission.
The Allstate Corporation is a holding company for Allstate Insurance Company. The Company and its subsidiaries including Allstate Insurance Company Allstate Life Insurance Company and other subsidiaries (collectively Allstate) are engaged in the property-liability insurance and life insurance business. It offers its products in the United States and Canada. Allstate operates in four business segments: Allstate Protection Discontinued Lines and Coverages Allstate Financial and Corporate and Other. The principal geographic markets for its auto homeowners and other personal property and casualty products are in the United States. Through its subsidiaries it sells various types of personal property and casualty insurance products in around 50 states the District of Columbia and Puerto Rico. It sells private passenger auto and homeowners insurance through agencies contact centers and Internet. It sells these products under Allstate Esurance and Encompass brand names.