The Allstate Co. (NYSE:ALL – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2022 earnings per share (EPS) estimates for shares of Allstate in a report released on Tuesday, May 10th. Jefferies Financial Group analyst Y. Kinar now anticipates that the insurance provider will post earnings of $0.68 per share for the quarter, down from their previous forecast of $0.90. Jefferies Financial Group also issued estimates for Allstate’s Q3 2022 earnings at $2.51 EPS, Q4 2022 earnings at $3.54 EPS and FY2022 earnings at $9.30 EPS.
Allstate (NYSE:ALL – Get Rating) last announced its earnings results on Wednesday, May 4th. The insurance provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21). Allstate had a net margin of 7.20% and a return on equity of 12.50%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter last year, the firm posted $6.11 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis.
Shares of ALL stock opened at $128.55 on Thursday. Allstate has a 12 month low of $106.11 and a 12 month high of $144.46. The stock has a market cap of $35.35 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.56 and a beta of 0.82. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average price is $133.97 and its 200-day moving average price is $124.04.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Monday, February 28th were given a $0.85 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.81. The ex-dividend date was Friday, February 25th. This represents a $3.40 dividend on an annualized basis and a yield of 2.64%. Allstate’s payout ratio is 28.48%.
In other news, CAO John C. Pintozzi sold 3,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $123.87, for a total transaction of $371,610.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.77% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Allstate during the 4th quarter valued at approximately $560,036,000. Norges Bank bought a new position in Allstate in the 4th quarter worth approximately $290,333,000. Allspring Global Investments Holdings LLC bought a new position in Allstate in the 4th quarter worth approximately $184,428,000. Invesco Ltd. boosted its stake in Allstate by 22.2% in the 4th quarter. Invesco Ltd. now owns 7,232,598 shares of the insurance provider’s stock worth $850,916,000 after purchasing an additional 1,314,237 shares during the period. Finally, American Century Companies Inc. boosted its stake in Allstate by 37.0% in the 1st quarter. American Century Companies Inc. now owns 4,341,890 shares of the insurance provider’s stock worth $601,395,000 after purchasing an additional 1,171,615 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.
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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