Zacks Research Has Positive View of Allstate FY2024 Earnings

The Allstate Co. (NYSE:ALL) – Zacks Research increased their FY2024 EPS estimates for Allstate in a research note issued to investors on Wednesday, December 18th. Zacks Research analyst Z. Masood now expects that the insurance provider will post earnings of $15.46 per share for the year, up from their previous forecast of $15.42. The consensus estimate for Allstate’s current full-year earnings is $16.26 per share. Zacks Research also issued estimates for Allstate’s Q4 2024 earnings at $4.81 EPS, Q1 2025 earnings at $5.12 EPS, Q2 2025 earnings at $2.95 EPS, Q3 2025 earnings at $3.93 EPS, Q4 2025 earnings at $4.70 EPS, FY2025 earnings at $16.70 EPS, Q1 2026 earnings at $5.20 EPS, Q3 2026 earnings at $4.70 EPS and FY2026 earnings at $18.33 EPS.

Other research analysts have also issued reports about the stock. TD Cowen boosted their target price on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. BMO Capital Markets raised their target price on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley raised their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company increased their target price on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Stock Performance

ALL stock opened at $193.56 on Friday. The stock’s fifty day moving average is $195.72 and its two-hundred day moving average is $182.25. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.70 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. Allstate has a 1 year low of $134.17 and a 1 year high of $209.88.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis.

Institutional Investors Weigh In On Allstate

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Allstate by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 313,754 shares of the insurance provider’s stock valued at $59,503,000 after purchasing an additional 5,980 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Allstate in the 3rd quarter valued at $593,000. Franklin Resources Inc. boosted its stake in shares of Allstate by 5.1% in the 3rd quarter. Franklin Resources Inc. now owns 136,632 shares of the insurance provider’s stock valued at $26,032,000 after purchasing an additional 6,616 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Allstate by 28.2% during the third quarter. Tidal Investments LLC now owns 40,759 shares of the insurance provider’s stock worth $7,730,000 after purchasing an additional 8,977 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Allstate by 457.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,249 shares of the insurance provider’s stock worth $1,754,000 after purchasing an additional 7,590 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.90%. Allstate’s payout ratio is presently 23.83%.

Allstate Company Profile

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.