The Allstate Co. to Post Q1 2024 Earnings of $5.10 Per Share, William Blair Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – William Blair cut their Q1 2024 earnings estimates for shares of Allstate in a research report issued on Thursday, April 18th. William Blair analyst A. Klauber now expects that the insurance provider will earn $5.10 per share for the quarter, down from their prior forecast of $5.50. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. William Blair also issued estimates for Allstate’s FY2024 earnings at $16.36 EPS.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. During the same period in the prior year, the company posted ($1.36) EPS. The company’s revenue was up 8.7% on a year-over-year basis.

A number of other research firms have also commented on ALL. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. UBS Group upped their price objective on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. 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. TD Cowen started coverage on shares of Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective on the stock. 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Trading Down 0.1 %

Shares of NYSE ALL opened at $175.27 on Monday. The firm has a 50 day moving average price of $164.50 and a two-hundred day moving average price of $148.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. Allstate has a 52-week low of $100.57 and a 52-week high of $176.93. The stock has a market cap of $46.11 billion, a P/E ratio of -141.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52.

Institutional Investors Weigh In On Allstate

Several hedge funds have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Allstate during the 3rd quarter valued at $25,000. Private Wealth Management Group LLC purchased a new position in Allstate during the 4th quarter valued at $25,000. Rise Advisors LLC bought a new stake in shares of Allstate during the 1st quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the 1st quarter valued at $26,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Allstate during the 4th quarter valued at $36,000. 76.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated 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 owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated 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 transaction, the insider now owns 63,731 shares of the company’s stock, 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is -296.77%.

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.