Allstate Corp (NYSE:ALL) reported mixed results for the first quarter after the closing bell on Wednesday.

The company posted quarterly earnings of $10.65 per share which beat the analyst consensus estimate of $7.29 per share. The company reported quarterly sales of $14.625 billion which missed the analyst consensus estimate of $15.099 billion.

“Allstate’s strategy and execution capabilities generated strong earnings and increased growth in the first quarter,” said Tom Wilson, who leads The Allstate Corporation. “Revenues were $16.9 billion and net income was $2.4 billion. Policies in force reached 212 million, reflecting increased growth in auto and homeowners insurance and Protection Plans. The Property-Liability combined ratio was strong, and the underlying combined ratio* improved in all personal lines products and brands. Investment income increased by 9.8%, reflecting portfolio growth and higher fixed income yields. Adjusted net income* was $2.8 billion, or $10.65 per diluted common share.”

Allstate shares rose 0.2% to trade at $217.71 on Friday.

These analysts made changes to their price targets on Allstate following earnings announcement.

  • Piper Sandler analyst Paul Newsome maintained Allstate with an Overweight rating and raised the price target from $252 to $268.
  • Citigroup analyst Matthew Heimermann maintained the stock with a Neutral and raised the price target from $221 to $226.

Considering buying ALL stock? Here’s what analysts think:

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