The Allstate Co. Expected to Earn Q2 2024 Earnings of $2.27 Per Share (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – William Blair lifted their Q2 2024 earnings per share estimates for shares of Allstate in a research report issued on Thursday, May 2nd. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $2.27 per share for the quarter, up from their prior estimate of $2.13. The consensus estimate for Allstate’s current full-year earnings is $14.57 per share. William Blair also issued estimates for Allstate’s Q3 2024 earnings at $3.57 EPS, Q4 2024 earnings at $5.50 EPS, Q1 2025 earnings at $4.55 EPS, Q2 2025 earnings at $3.00 EPS and Q4 2025 earnings at $5.98 EPS.

Other analysts have also recently issued reports about the company. HSBC raised Allstate from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. TD Cowen started coverage on shares of Allstate in a report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 target price for the company. Wells Fargo & Company increased their price target on Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. UBS Group lifted their price objective on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, BMO Capital Markets increased their target price on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. One equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Allstate Price Performance

Shares of ALL stock opened at $168.18 on Monday. Allstate has a 1 year low of $100.57 and a 1 year high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.37 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $166.06 and its 200-day moving average is $151.27. The firm has a market capitalization of $44.39 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.30) EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Confluence Wealth Services Inc. lifted its position in Allstate by 0.9% during the first quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after purchasing an additional 65 shares during the period. Gradient Investments LLC lifted its holdings in shares of Allstate by 1.6% during the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after acquiring an additional 66 shares during the period. Brighton Jones LLC boosted its position in shares of Allstate by 1.9% during the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after acquiring an additional 71 shares in the last quarter. SVB Wealth LLC increased its stake in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after acquiring an additional 72 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in Allstate by 1.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 31,000 shares of the business’s 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 transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the company’s 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 completion of 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. 1.80% of the stock is currently owned by corporate insiders.

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 paid a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is 81.24%.

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.