Roth Capital Analysts Increase Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALL - Free Report) - Investment analysts at Roth Capital increased their Q1 2024 earnings per share (EPS) estimates for shares of Allstate in a report issued on Monday, April 8th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings per share of $3.59 for the quarter, up from their previous forecast of $3.50. The consensus estimate for Allstate's current full-year earnings is $13.27 per share. Roth Capital also issued estimates for Allstate's Q2 2024 earnings at $1.66 EPS, Q3 2024 earnings at $3.26 EPS, FY2024 earnings at $13.00 EPS and Q1 2025 earnings at $4.46 EPS.

ALL has been the topic of several other reports. Raymond James raised their price objective on Allstate from $155.00 to $180.00 and gave the company a "strong-buy" rating in a research note on Monday, January 22nd. HSBC upgraded Allstate from a "hold" rating to a "buy" rating and lifted their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. TD Cowen began coverage on Allstate in a report on Wednesday, January 10th. They issued an "outperform" rating and a $193.00 target price for the company. UBS Group boosted their price objective on Allstate from $171.00 to $185.00 and gave the company a "buy" rating in a report on Monday, February 12th. Finally, Roth Mkm boosted their price objective on Allstate from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $172.00.

Allstate Price Performance

NYSE:ALL traded down $4.03 during trading hours on Tuesday, hitting $168.33. The company's stock had a trading volume of 1,218,598 shares, compared to its average volume of 1,711,960. The stock has a fifty day simple moving average of $162.37 and a 200-day simple moving average of $144.45. The company has a market capitalization of $44.28 billion, a P/E ratio of -135.75, a PEG ratio of 0.43 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. Allstate has a twelve month low of $100.57 and a twelve month high of $174.57.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. Allstate's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.36) EPS.

Institutional Trading of Allstate

Several large investors have recently modified their holdings of ALL. Sei Investments Co. grew its holdings in Allstate by 40.2% during the first quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider's stock valued at $26,022,000 after purchasing an additional 53,824 shares during the period. Prudential PLC bought a new stake in Allstate during the first quarter valued at about $1,325,000. Cetera Investment Advisers grew its holdings in Allstate by 13.9% during the first quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider's stock valued at $3,260,000 after purchasing an additional 2,874 shares during the period. Dakota Wealth Management bought a new stake in Allstate during the first quarter valued at about $270,000. Finally, Sequoia Financial Advisors LLC grew its holdings in Allstate by 36.2% during the first quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider's stock valued at $448,000 after purchasing an additional 860 shares during the period. Institutional investors own 76.47% of the company's stock.

Insider Transactions at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate 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 completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of the business's stock in a transaction on 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 $1,712,069.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the business's stock in a transaction on Tuesday, March 26th. The stock was 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 1.70% of the company's stock.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. This is a positive change from Allstate's previous quarterly dividend of $0.89. Allstate's dividend payout ratio is currently -296.77%.

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.