Analysts Offer Predictions for The Allstate Co.'s Q1 2024 Earnings (NYSE:ALL)

The Allstate Co. (NYSE:ALL - Free Report) - Zacks Research upped their Q1 2024 earnings per share (EPS) estimates for Allstate in a research report issued on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now expects that the insurance provider will earn $2.77 per share for the quarter, up from their previous forecast of $2.76. The consensus estimate for Allstate's current full-year earnings is $13.44 per share. Zacks Research also issued estimates for Allstate's Q3 2024 earnings at $2.79 EPS, Q1 2025 earnings at $3.74 EPS, Q1 2026 earnings at $3.73 EPS and FY2026 earnings at $17.32 EPS.

Several other research analysts have also weighed in on ALL. TheStreet raised Allstate from a "c+" rating to a "b" rating in a research report on Wednesday, February 7th. Jefferies Financial Group raised Allstate from a "hold" rating to a "buy" rating and upped their target price for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Raymond James upped their price target on Allstate from $155.00 to $180.00 and gave the stock a "strong-buy" rating in a research note on Monday, January 22nd. Morgan Stanley upped their price target on Allstate from $187.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Finally, Piper Sandler upped their price target on 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 issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.71.

Allstate Stock Down 0.0 %

NYSE:ALL traded down $0.02 during trading hours on Thursday, hitting $172.25. 1,161,187 shares of the company's stock traded hands, compared to its average volume of 1,685,567. The firm has a market cap of $45.31 billion, a P/E ratio of -138.91, a P/E/G ratio of 0.43 and a beta of 0.52. Allstate has a twelve month low of $100.57 and a twelve month high of $176.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The stock's fifty day moving average price is $164.92 and its two-hundred day moving average price is $148.75.

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

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. This is an increase from Allstate's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.14%. Allstate's payout ratio is presently -296.77%.

Insider Buying and Selling at Allstate

In related 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 sale, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 sale, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, 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 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 directly owns 63,731 shares of the company's stock, valued at $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 and hedge funds have recently modified their holdings of ALL. AE Wealth Management LLC boosted its position in shares of Allstate by 18.2% during the third quarter. AE Wealth Management LLC now owns 13,363 shares of the insurance provider's stock worth $1,489,000 after buying an additional 2,059 shares during the period. IFP Advisors Inc boosted its position in shares of Allstate by 171.1% during the third quarter. IFP Advisors Inc now owns 930 shares of the insurance provider's stock worth $104,000 after buying an additional 587 shares during the period. RFG Advisory LLC acquired a new position in shares of Allstate during the third quarter worth about $213,000. Flagship Harbor Advisors LLC acquired a new position in shares of Allstate during the third quarter worth about $202,000. Finally, Washington Trust Advisors Inc. raised its holdings in Allstate by 13.2% during the third quarter. Washington Trust Advisors Inc. now owns 1,720 shares of the insurance provider's stock worth $192,000 after acquiring an additional 200 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.