Q2 2022 EPS Estimates for The Allstate Co. (NYSE:ALL) Decreased by Jefferies Financial Group

The Allstate Co. (NYSE:ALLGet 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:ALLGet 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.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Allstate from a “sell” rating to a “buy” rating and boosted their target price for the company from $111.00 to $142.00 in a report on Wednesday, March 2nd. Raymond James raised Allstate from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $145.00 to $165.00 in a research report on Friday, March 18th. Zacks Investment Research raised Allstate from a “sell” rating to a “hold” rating and set a $104.00 price target for the company in a research report on Thursday, March 10th. UBS Group raised Allstate from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $149.00 in a research report on Monday, February 14th. Finally, StockNews.com started coverage on Allstate in a research report on Thursday, March 31st. They issued a “hold” rating for the company. 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 stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Hold” and an average price target of $142.31.

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.

Read More

Earnings History and Estimates for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.