The Allstate Co. to Post FY2022 Earnings of ($1.05) Per Share, Jefferies Financial Group Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALL – Get Rating) – Equities researchers at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for shares of Allstate in a research note issued to investors on Wednesday, January 18th. Jefferies Financial Group analyst Y. Kinar now anticipates that the insurance provider will earn ($1.05) per share for the year, down from their prior forecast of $2.20. The consensus estimate for Allstate’s current full-year earnings is ($0.22) per share. Jefferies Financial Group also issued estimates for Allstate’s Q4 2022 earnings at ($1.34) EPS.

Allstate (NYSE:ALL – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported ($1.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.57) by $0.01. The company had revenue of $13.38 billion for the quarter, compared to the consensus estimate of $13.30 billion. Allstate had a positive return on equity of 5.13% and a negative net margin of 0.41%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS.

Several other brokerages also recently commented on ALL. Wells Fargo & Company dropped their price objective on Allstate from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday. BMO Capital Markets started coverage on Allstate in a research note on Thursday. They set a “market perform” rating and a $130.00 price objective on the stock. UBS Group raised their price objective on Allstate from $150.00 to $160.00 in a research note on Tuesday, January 10th. Evercore ISI dropped their price objective on Allstate from $151.00 to $144.00 and set an “in-line” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on Allstate from $146.00 to $166.00 and gave the stock a “buy” rating in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $147.85.

Allstate Stock Performance

Shares of Allstate stock opened at $125.65 on Monday. The company has a market capitalization of $33.32 billion, a PE ratio of -88.49, a PEG ratio of 2.88 and a beta of 0.61. Allstate has a 12 month low of $111.85 and a 12 month high of $144.46. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $133.83 and its 200 day simple moving average is $128.43.

Hedge Funds Weigh In On Allstate

Several hedge funds have recently modified their holdings of the stock. Field & Main Bank acquired a new stake in Allstate in the 2nd quarter valued at about $25,000. Accurate Wealth Management LLC acquired a new stake in Allstate in the 4th quarter valued at about $27,000. Curi Wealth Management LLC lifted its stake in Allstate by 7,266.7% in the 2nd quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 218 shares during the last quarter. Heritage Wealth Management LLC acquired a new stake in Allstate in the 2nd quarter valued at about $30,000. Finally, Cowa LLC acquired a new stake in Allstate in the 1st quarter valued at about $30,000. Institutional investors own 77.48% of the company’s stock.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, November 30th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Tuesday, November 29th. Allstate’s payout ratio is -239.44%.

Allstate Company Profile

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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.