DOWLING & PARTN Weighs in on Allstate FY2028 Earnings

Key Points

• DOWLING & PARTN forecasts Allstate’s FY2028 EPS at $25.50, well below the current analyst consensus of $31.40 per share.
• Allstate’s latest quarterly results exceeded expectations, with EPS of $8.99 versus the $6.06 consensus; revenue rose 11.8% year over year to $15.43 billion.
• The stock opened at $269.25, while analysts maintain a consensus “Hold” rating and a $262.16 price target. Allstate also declared a quarterly dividend of $1.08 per share, representing a 1.6% yield.

The Allstate Corporation (NYSE:ALL - Free Report) - Equities researchers at DOWLING & PARTN issued their FY2028 earnings per share estimates for shares of Allstate in a research report issued on Friday, August 7th. DOWLING & PARTN analyst D. Lukpanov forecasts that the insurance provider will earn $25.50 per share for the year. The consensus estimate for Allstate's current full-year earnings is $31.40 per share.

A number of other research analysts also recently issued reports on ALL. Morgan Stanley raised their price target on Allstate from $215.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Evercore set a $240.00 price target on shares of Allstate in a research report on Friday, July 10th. Piper Sandler raised their price objective on shares of Allstate from $268.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Mizuho increased their target price on shares of Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $262.16.

Allstate Stock Up 0.8%

Allstate stock opened at $269.25 on Tuesday. The stock has a market cap of $69.31 billion, a PE ratio of 5.38, a P/E/G ratio of 0.45 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock's fifty day moving average is $242.76 and its two-hundred day moving average is $221.18. Allstate has a 1-year low of $188.08 and a 1-year high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating analysts' consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $15.43 billion during the quarter, compared to analysts' expectations of $15.46 billion. During the same period in the previous year, the firm posted $5.94 earnings per share. The company's revenue was up 11.8% on a year-over-year basis.

Hedge Funds Weigh In On Allstate

A number of large investors have recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new position in Allstate during the 4th quarter worth approximately $231,000. WINTON GROUP Ltd acquired a new position in Allstate during the 2nd quarter worth approximately $210,000. Treasurer of the State of North Carolina boosted its holdings in Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after acquiring an additional 3,051 shares during the period. Finally, Ieq Capital LLC grew its position in Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock valued at $7,713,000 after acquiring an additional 6,412 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.55% of the company's stock.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.6%. Allstate's dividend payout ratio (DPR) is presently 8.63%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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