Q2 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Raised by Analyst

The Allstate Co. (NYSE:ALL) – Stock analysts at Roth Capital raised their Q2 2024 earnings per share estimates for Allstate in a report released on Wednesday, May 1st. Roth Capital analyst H. Fong now forecasts that the insurance provider will earn $1.93 per share for the quarter, up from their previous estimate of $1.66. The consensus estimate for Allstate’s current full-year earnings is $14.57 per share. Roth Capital also issued estimates for Allstate’s Q3 2024 earnings at $3.50 EPS and FY2024 earnings at $15.25 EPS.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the company earned ($1.30) earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

ALL has been the subject of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $180.00 in a research note on Tuesday, January 9th. BMO Capital Markets upped their target price on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research report on Friday, January 19th. Piper Sandler increased their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Evercore ISI boosted their price objective on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Allstate Stock Down 1.1 %

ALL stock opened at $168.19 on Monday. The stock has a market cap of $44.39 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. The firm’s 50-day simple moving average is $166.44 and its 200 day simple moving average is $151.91. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is 81.24%.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred 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 transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in Allstate during the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Allstate in the first quarter worth $25,000. Private Wealth Management Group LLC acquired a new stake in Allstate during the fourth quarter worth $25,000. Rise Advisors LLC acquired a new position in shares of Allstate in the 1st quarter valued at $26,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 1st quarter valued at about $26,000. Institutional investors own 76.47% of the company’s stock.

Allstate Company Profile

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.