Q2 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Boosted by Zacks Research

The Allstate Co. (NYSE:ALL) – Investment analysts at Zacks Research boosted their Q2 2024 earnings per share (EPS) estimates for Allstate in a research note issued on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now expects that the insurance provider will earn $0.86 per share for the quarter, up from their previous 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.

ALL has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. TD Cowen assumed coverage on Allstate in a research report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price target on the stock. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Raymond James upped their price target on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. Finally, Roth Mkm upped their price target on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Stock Down 1.4 %

Shares of Allstate stock opened at $170.00 on Friday. The stock’s fifty day moving average is $165.09 and its 200-day moving average is $149.14. The firm has a market capitalization of $44.72 billion, a PE ratio of -137.10, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. Allstate has a 12-month low of $100.57 and a 12-month high of $176.93.

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

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 2.16%. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is -296.77%.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Allstate

Several hedge funds have recently added to or reduced their stakes in ALL. E Fund Management Hong Kong Co. Ltd. acquired a new position in Allstate in the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in Allstate in the 1st quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Allstate in the 1st quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in Allstate in the 4th quarter valued at approximately $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate in the 3rd quarter valued at approximately $25,000. 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.