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

The Allstate Co. (NYSE:ALL) – Roth Capital lifted their Q2 2024 EPS estimates for shares of Allstate in a report released on Wednesday, May 1st. Roth Capital analyst H. Fong now forecasts that the insurance provider will earn $1.93 per share for the quarter, up from their previous forecast of $1.66. The consensus estimate for Allstate’s current full-year earnings is $14.57 per share. Roth Capital also issued estimates for Allstate’s Q3 2024 earnings at $3.50 EPS and FY2024 earnings at $15.25 EPS.

Several other equities research analysts have also recently weighed in on ALL. The Goldman Sachs Group boosted their price target on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. UBS Group upped their target price on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, February 12th. TD Cowen began coverage on Allstate in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price target for the company. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.18.

Allstate Stock Up 1.1 %

Shares of ALL opened at $170.08 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $44.89 billion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. Allstate has a 1 year low of $100.57 and a 1 year high of $177.37. The business’s 50 day simple moving average is $166.27 and its 200-day simple moving average is $151.59.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.30) earnings per share.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, March 1st. Allstate’s payout ratio is currently 81.24%.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated 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 directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated 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 $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALL. Vanguard Group Inc. lifted its position in shares of Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after purchasing an additional 3,322,673 shares during the period. Norges Bank purchased a new stake in Allstate during the fourth quarter worth $212,771,000. Invesco Ltd. boosted its position in Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after acquiring an additional 1,311,095 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Allstate by 23.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after acquiring an additional 782,696 shares during the period. Finally, Palestra Capital Management LLC purchased a new stake in shares of Allstate during the 4th quarter worth $83,561,000. Hedge funds and other 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.