(ALL - Get Report)
closed at $42.93 Monday, trading for 9.5 times the consensus 2013 EPS estimate of $4.53. The consensus 2014 EPS estimate is $4.88.
The shares returned 50% during 2012.
Based on a quarterly payout of 22 cents, the shares have a dividend yield of 2.05%.
Allstate announced on Nov. 28 estimated that its losses for October, net of reinsurance, totaled $1.1 billion before taxes. The company said that "autos represent approximately 40% of the total gross losses, with 78% in New York, 19% in New Jersey and 3% in other states."
For its Property-Liability unit, Allstate reported underwriting income of $1.316 billion for the first three quarters of 2012. During 2011, the unit had an underwriting loss of $874 million.
The company will announce its fourth-quarter results on Feb. 7, with analysts expecting a loss of seven cents a share, compared to a profit of $1.46 a share the previous quarter, and EPS of $1.48 during the fourth quarter of 2011.
Allstate on Dec. 17 announced that its board of directors had "approved a share repurchase program of up to $1 billion to be funded by issuing a like amount of subordinated debentures," after its previous buyback program was completed.
Following the company's announcement, Credit Suisse analyst Michael Zaremski reiterated his "Outperform" rating for Allstate, with a $42 price target, saying he expected the company's board of directors to approve an additional $1 billion worth of stock (equal to 5% of shares outstanding at today's stock price [on Dec. 1]) via the issuance of a like amount of hybrid debt."
Zaremski estimates that Allstate will earn $4.35 a share in 2013 with EPS rising to $4.72 in 2014.
Interested in more on Allstate? See TheStreet Ratings' report card for this stock.
Written by Philip van Doorn in Jupiter, Fla.