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

The Allstate Co. (NYSE:ALL) – Research analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for Allstate in a research report issued on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now forecasts that the insurance provider will post earnings per share of $0.86 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.

Several other analysts have also recently weighed in on ALL. The Goldman Sachs Group lifted their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Roth Mkm boosted their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen assumed coverage on Allstate in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price target on the stock. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and boosted their price target for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate Price Performance

Allstate stock opened at $172.25 on Friday. The stock’s 50 day simple moving average is $164.92 and its two-hundred day simple moving average is $148.75. 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 fifty-two week low of $100.57 and a fifty-two week high of $176.93.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALL. AE Wealth Management LLC raised its position in shares of Allstate by 18.2% during the 3rd quarter. AE Wealth Management LLC now owns 13,363 shares of the insurance provider’s stock valued at $1,489,000 after buying an additional 2,059 shares in the last quarter. IFP Advisors Inc increased its position in shares of Allstate by 171.1% during the third quarter. IFP Advisors Inc now owns 930 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 587 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Allstate during the third quarter worth approximately $202,000. CX Institutional increased its position in shares of Allstate by 13.8% during the third quarter. CX Institutional now owns 4,128 shares of the insurance provider’s stock worth $460,000 after acquiring an additional 500 shares during the period. Finally, Czech National Bank increased its position in shares of Allstate by 46.9% during the third quarter. Czech National Bank now owns 45,717 shares of the insurance provider’s stock worth $5,093,000 after acquiring an additional 14,601 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction 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 owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were 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 disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.14%. Allstate’s payout ratio is presently -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.