Q2 2024 EPS Estimates for The Allstate Co. Increased by Zacks Research (NYSE:ALL)

The Allstate Co. (NYSE:ALL - Free Report) - Equities research analysts at Zacks Research upped their Q2 2024 earnings estimates for shares of Allstate in a report issued 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 previous estimate 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 - Get Free Report) last posted its quarterly 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 negative net margin of 0.33% and a positive return on equity of 2.67%. The business 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 posted ($1.36) EPS. The company's quarterly revenue was up 8.7% on a year-over-year basis.

Several other brokerages also recently weighed in on ALL. HSBC upgraded shares of Allstate from a "hold" rating to a "buy" rating and lifted their price objective for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. Roth Mkm boosted their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. UBS Group boosted their price target on shares of Allstate from $171.00 to $185.00 and gave the stock a "buy" rating in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $172.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. 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 report on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $173.71.

Allstate Price Performance

NYSE:ALL traded down $2.34 during mid-day trading on Friday, hitting $170.00. The stock had a trading volume of 1,279,025 shares, compared to its average volume of 1,680,547. The company has a 50 day simple moving average of $164.92 and a 200-day simple moving average of $148.75. Allstate has a 52 week low of $100.57 and a 52 week high of $176.93. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

Institutional Trading of Allstate

Institutional investors and hedge funds have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Allstate in the 1st quarter valued at $25,000. Private Wealth Management Group LLC bought a new stake in Allstate in the 4th quarter valued at $25,000. Rise Advisors LLC bought a new stake in Allstate in the 1st quarter valued at $26,000. Finally, Northwest Investment Counselors LLC bought a new stake in Allstate in the 1st quarter valued at $26,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on 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 transaction, the insider now directly owns 63,731 shares of the company's stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Allstate 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 completion of 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 this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on 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 sale, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

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. This is an increase from Allstate's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, March 1st. Allstate's dividend payout ratio (DPR) is -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.