Equities Analysts Issue Forecasts for The Allstate Co.’s Q1 2023 Earnings (NYSE:ALL)

The Allstate Co. (NYSE:ALLGet Rating) – Analysts at William Blair issued their Q1 2023 earnings per share (EPS) estimates for Allstate in a research note issued to investors on Sunday, April 24th. William Blair analyst A. Klauber expects that the insurance provider will post earnings of $4.39 per share for the quarter. William Blair also issued estimates for Allstate’s Q2 2023 earnings at $2.63 EPS and Q4 2023 earnings at $5.65 EPS.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Allstate from a “sell” rating to a “hold” rating and set a $104.00 target price on the stock in a research report on Thursday, March 10th. Wells Fargo & Company raised their price target on shares of Allstate from $105.00 to $123.00 and gave the company an “underweight” rating in a research note on Tuesday, April 12th. Morgan Stanley raised their price target on shares of Allstate from $140.00 to $152.00 and gave the company an “equal weight” rating in a research note on Thursday, April 14th. StockNews.com started coverage on shares of Allstate in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays raised their price target on shares of Allstate from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.77.

NYSE:ALL opened at $128.98 on Wednesday. Allstate has a 52 week low of $106.11 and a 52 week high of $144.46. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $35.90 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81. The stock’s 50-day moving average price is $132.65 and its 200-day moving average price is $123.81.

Allstate (NYSE:ALLGet Rating) last posted its earnings results on Wednesday, February 2nd. The insurance provider reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.01. Allstate had a return on equity of 16.60% and a net margin of 3.16%. The firm had revenue of $10.85 billion for the quarter, compared to analysts’ expectations of $10.98 billion. During the same period last year, the firm earned $5.87 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators lifted its holdings in Allstate by 122.9% in the third quarter. Deseret Mutual Benefit Administrators now owns 7,855 shares of the insurance provider’s stock valued at $1,000,000 after acquiring an additional 4,331 shares during the last quarter. Mariner LLC raised its position in Allstate by 4.7% in the third quarter. Mariner LLC now owns 21,934 shares of the insurance provider’s stock valued at $2,792,000 after purchasing an additional 986 shares during the period. Captrust Financial Advisors raised its position in Allstate by 8.8% in the third quarter. Captrust Financial Advisors now owns 164,870 shares of the insurance provider’s stock valued at $21,115,000 after purchasing an additional 13,337 shares during the period. Lorne Steinberg Wealth Management Inc. raised its position in Allstate by 1.6% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 45,755 shares of the insurance provider’s stock valued at $5,825,000 after purchasing an additional 700 shares during the period. Finally, F&V Capital Management LLC raised its position in Allstate by 13.5% in the fourth quarter. F&V Capital Management LLC now owns 75,605 shares of the insurance provider’s stock valued at $8,895,000 after purchasing an additional 8,995 shares during the period. Hedge funds and other institutional investors own 74.65% of the company’s stock.

In related news, CAO John C. Pintozzi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $123.87, for a total value of $371,610.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 1,652 shares of the company’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $121.25, for a total value of $200,305.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,300 shares of company stock worth $3,715,590. Insiders own 1.56% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Monday, February 28th were issued a dividend of $0.85 per share. This is a boost from Allstate’s previous quarterly dividend of $0.81. This represents a $3.40 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, February 25th. Allstate’s payout ratio is currently 66.67%.

About Allstate (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Earnings History and Estimates for Allstate (NYSE:ALL)

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