Q1 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Decreased by Analyst

The Allstate Co. (NYSE:ALL) – William Blair lowered their Q1 2024 earnings per share (EPS) estimates for shares of Allstate in a research note issued on Thursday, April 18th. William Blair analyst A. Klauber now expects that the insurance provider will post earnings per share of $5.10 for the quarter, down from their previous forecast of $5.50. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. William Blair also issued estimates for Allstate’s FY2024 earnings at $16.36 EPS.

Other equities analysts have also recently issued reports about the stock. Raymond James lifted their price objective on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 22nd. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen initiated coverage on shares of Allstate in a research note on Wednesday, January 10th. They set an “outperform” rating and a $193.00 target price on the stock. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and upped their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Stock Performance

Shares of ALL opened at $172.96 on Monday. The company has a market cap of $45.50 billion, a PE ratio of -139.48, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The firm has a 50-day moving average of $163.84 and a 200-day moving average of $147.54. Allstate has a one year low of $100.57 and a one year high of $174.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

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

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Activity

In related news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. increased its position in shares of Allstate by 40.2% during the first quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock valued at $26,022,000 after buying an additional 53,824 shares during the period. Prudential PLC purchased a new position in shares of Allstate during the 1st quarter valued at $1,325,000. Cetera Investment Advisers raised its position in shares of Allstate by 13.9% in the first quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock worth $3,260,000 after buying an additional 2,874 shares in the last quarter. Dakota Wealth Management bought a new stake in Allstate during the first quarter valued at $270,000. Finally, Sequoia Financial Advisors LLC increased its stake in Allstate by 36.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock worth $448,000 after acquiring an additional 860 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

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.