William Blair Research Analysts Lift Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Equities researchers at William Blair boosted their Q2 2024 earnings per share (EPS) estimates for Allstate in a research note issued on Thursday, May 2nd. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings of $2.27 per share for the quarter, up from their prior estimate of $2.13. The consensus estimate for Allstate’s current full-year earnings is $14.57 per share. William Blair also issued estimates for Allstate’s Q3 2024 earnings at $3.57 EPS, Q4 2024 earnings at $5.50 EPS, Q1 2025 earnings at $4.55 EPS, Q2 2025 earnings at $3.00 EPS and Q4 2025 earnings at $5.98 EPS.

Several other research analysts also recently issued reports on ALL. TheStreet raised Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. The Goldman Sachs Group raised their price target on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Evercore ISI raised their target price on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Piper Sandler boosted their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.18.

Allstate Price Performance

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

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

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently bought and sold shares of ALL. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Allstate during the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Allstate during the first quarter worth $25,000. Private Wealth Management Group LLC bought a new stake in Allstate during the fourth quarter worth $25,000. Rise Advisors LLC acquired a new stake in Allstate in the first quarter valued at $26,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Allstate in the 1st quarter valued at about $26,000. Institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly 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 available at this link. Also, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were 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 of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Increases Dividend

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

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.