Zacks Research Research Analysts Increase Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Investment analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of Allstate in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now forecasts that the insurance provider will post earnings of $0.86 per share for the quarter, up from their prior forecast 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.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same period in the previous year, the business earned ($1.36) EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis.

ALL has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on shares of Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company increased their price target on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. One 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. According to data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average target price of $173.71.

Allstate Stock Performance

NYSE ALL opened at $170.07 on Friday. The company has a 50-day simple moving average of $165.09 and a two-hundred day simple moving average of $149.38. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. Allstate has a 12-month low of $100.57 and a 12-month high of $176.93. The firm has a market cap of $44.74 billion, a price-to-earnings ratio of -137.15, a PEG ratio of 0.42 and a beta of 0.52.

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 given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is presently -296.77%.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Allstate in the first quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in shares of Allstate in the first quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the first quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate in the fourth quarter valued at approximately $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Allstate in the third quarter valued at approximately $25,000. Institutional investors and hedge funds 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.