The Allstate Co. to Post Q2 2024 Earnings of $0.86 Per Share, Zacks Research Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Equities researchers at Zacks Research lifted their Q2 2024 EPS estimates for shares of Allstate in a research note issued on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now forecasts that the insurance provider will earn $0.86 per share for the quarter, up from their prior forecast of $0.85. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. Zacks Research also issued estimates for Allstate’s FY2024 earnings at $11.35 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $3.70 EPS, Q4 2025 earnings at $4.88 EPS and FY2025 earnings at $15.20 EPS.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The company had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. During the same period in the prior year, the company earned ($1.36) EPS. Allstate’s revenue was up 8.7% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Morgan Stanley upped their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and upped their price objective for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. Piper Sandler upped their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Raymond James upped their price objective on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate Price Performance

Shares of NYSE ALL opened at $172.25 on Friday. Allstate has a twelve month low of $100.57 and a twelve month high of $176.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a 50-day moving average of $164.92 and a two-hundred day moving average of $148.75.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Buying and Selling

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allstate

Several institutional investors have recently modified their holdings of ALL. Ellsworth Advisors LLC bought a new position in shares of Allstate during the 4th quarter valued at about $4,312,000. SteelPeak Wealth LLC lifted its stake in Allstate by 175.2% in the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after acquiring an additional 9,984 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after acquiring an additional 275,319 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Allstate by 214.6% in the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after acquiring an additional 1,071 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Allstate by 88.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock valued at $3,429,000 after acquiring an additional 11,512 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.