LONDON, November 17, 2014 /PRNewswire/ --
Investor-Edge.com has issued free earnings analysis on The Allstate Corp. ( NYSE: ALL). On October 29, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on The Allstate Corp. (Allstate). During Q3 FY14, the company's diluted EPS surged 163.6% from Q3 FY13, and its consolidated revenues grew 5.6% from the previous year quarter. Our free coverage report can be accessed at:
Allstate's consolidated revenues in Q3 FY14 increased to $8,936 million from $8,465 million in Q3 FY13. Bloomberg analysts' had expected the company to report revenues of $8,643 million. During Q3 FY14, Allstate Protection written premiums increased $367 million from Q3 FY13. Allstate brand written premiums increased $303 million or 4.5% Y-o-Y, Esurance premiums grew $50 million, or 14.0% Y-o-Y, and Encompass premiums increased $14 million, or 4.3% Y-o-Y. However, the company's financial premiums and contract charges declined 12.3% Y-o-Y to $512 million in Q3 FY14 due to the sale of Lincoln Benefit Life Company. The free research on ALL can be downloaded as in PDF format at:
Allstate's operating income during Q3 FY14 decreased to $598 million, or $1.39 per diluted common share, from $713 million, or $1.53 per diluted common share, in Q3 FY13 as a result of catastrophe losses of $517 million, pre-tax, which were $389 million higher than the year-ago quarter. Meanwhile, net income available to Allstate's common shareholders broadened to $750 million, or $1.74 per diluted common share in Q3 FY14, from $310 million, or $0.66 per diluted common share in Q3 FY13. The company's reported net income surpassed Bloomberg analysts' forecasts of $608 million or $1.41 per share.
Commenting on the results, Thomas J. Wilson, Chairman, President and CEO of Allstate, stated that the company saw growth across all its brands and customer segments while generating excellent profitability, despite a significant increase in losses from severe weather. The combination of a unique strategy and operational focus continues to improve the company's competitive position and create value for shareholders. Mr. Wilson mentioned that, over the last year, the company added 790,000 policies in force, a 2.4% improvement, and net written premiums increased by $1.4 billion for the trailing twelve months. Profitability was also strong and consistent with Allstate's strategic direction and a proactive approach to managing risk and return, he added. Sign up and read the free analyst's notes on ALL at:
Steve Shebik, CFO of Allstate, stated that during Q3 FY14, the company returned $1.05 billion to shareholders through common stock dividends and repurchasing 3.6% of its outstanding shares. Mr. Shebik added that the company's book value per diluted common share increased 11.0% from a year ago, to $48.28 at the end of Q3 FY14.
On the day following the earnings release, October 30, 2014, Allstate's stock ended the session at $63.91, up 1.48%. The stock has maintained mostly a positive trend since then. However, on the last close, Friday, November 14, 2014, it finished at $66.58, down 0.51%, after vacillating between $66.43 and $67.01. A total of 1.56 million shares were traded, which was below its three months average volume of 2.18 million shares. Over the last one month and previous three months, the company's shares have gained 9.92% and 9.71%, respectively. Further, the company's stock has gained 22.08% since the beginning of this year. Shares in Allstate closed above its 50-day and 200-day moving averages of $62.56 and $58.61, respectively. Furthermore, the stock traded at a PE ratio of 12.40 and has a Relative Strength Index (RSI) of 71.00. Visit Investor-Edge and access the latest research on ALL at:
Sneak Peek to Corporate Insider Trading
In the last one month, there were 12 insider transactions by 4 individuals. On October 27, 2014, Steven C. Verney, Executive VP and Chief Risk Officer at Allstate, bought 20,271 shares of the company at a price of $16.83 per share and on the very day he sold an equal number of shares at $63.00 per share. On the same day, Samuel H. Pilch, Senior Group VP and Controller at Allstate, purchased 51,346 shares at an average price of $53.46 per share and disposed the same amount of shares at a price of $63.00 a share. On November 03, 2014, James David DeVries, Executive VP and Chief Administrative Officer at Allstate, bought 9,374 shares at a price of $16.83 per share and disposed the equal amount of share at the price of $65.00 per share. Also, on November 04, 2014, Mr. DeVries purchased and sold 40,626 shares at a price of $16.83 and $65.00 per share, respectively. Moreover, on November 05, 2014, Susan L. Lees, Executive VP and General Counsel at Allstate, was issued 14,337 shares at a price of $16.83 per share and sold an equal number of shares at an average price of $65.50 per share on the same day. Complimentary in-depth research on ALL is available at:
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