Q2 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Boosted by Zacks Research

The Allstate Co. (NYSE:ALL) – Equities research analysts at Zacks Research lifted their Q2 2024 EPS estimates for Allstate in a report released on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now anticipates that the insurance provider will earn $0.86 per share for the quarter, up from their prior estimate of $0.85. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. Zacks Research also issued estimates for Allstate’s FY2024 earnings at $11.35 EPS, Q2 2025 earnings at $2.88 EPS, Q3 2025 earnings at $3.70 EPS, Q4 2025 earnings at $4.88 EPS and FY2025 earnings at $15.20 EPS.

A number of other equities research analysts have also weighed in on the stock. HSBC upgraded shares of 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. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $180.00 in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Roth Mkm increased their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $173.71.

Allstate Price Performance

ALL stock opened at $170.00 on Friday. The stock has a market capitalization of $44.72 billion, a PE ratio of -137.10, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The company’s 50-day moving average is $165.09 and its 200-day moving average is $149.14. 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 has a 1 year low of $100.57 and a 1 year high of $176.93.

Allstate (NYSE:ALL) last released 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. The company had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.36) EPS.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.16%. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly 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 can be accessed through this link. In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly 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 can be accessed through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the firm’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 transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in Allstate in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Allstate in the 1st quarter valued at $25,000. Private Wealth Management Group LLC bought a new position in Allstate in the 4th quarter valued at $25,000. Rise Advisors LLC bought a new position in Allstate in the 1st quarter valued at $26,000. Finally, Northwest Investment Counselors LLC bought a new position in Allstate in the 1st quarter valued at $26,000. 76.47% of the stock is owned by institutional investors.

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.