Q2 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Boosted by Roth Capital

The Allstate Co. (NYSE:ALL - Free Report) - Research analysts at Roth Capital upped their Q2 2024 earnings estimates for Allstate in a report released on Wednesday, May 1st. Roth Capital analyst H. Fong now forecasts that the insurance provider will earn $1.93 per share for the quarter, up from their prior estimate of $1.66. The consensus estimate for Allstate's current full-year earnings is $14.57 per share. Roth Capital also issued estimates for Allstate's Q3 2024 earnings at $3.50 EPS and FY2024 earnings at $15.25 EPS.

A number of other equities analysts have also recently weighed in on the company. TheStreet upgraded Allstate from a "c+" rating to a "b" rating in a report on Wednesday, February 7th. Piper Sandler lifted their price target on shares of Allstate from $172.00 to $188.00 and gave the company an "overweight" rating in a research report on Monday, April 1st. HSBC upgraded shares of Allstate from a "hold" rating to a "buy" rating and upped their price objective for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Morgan Stanley lifted their target price on shares of Allstate from $187.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Finally, UBS Group upped their price target on Allstate from $171.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and an average target price of $174.18.

Allstate Trading Up 1.1 %

Shares of ALL traded up $1.90 during midday trading on Monday, reaching $170.08. The company had a trading volume of 1,183,243 shares, compared to its average volume of 1,680,631. The firm has a 50 day simple moving average of $166.27 and a 200-day simple moving average of $151.59. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock has a market cap of $44.89 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. Allstate has a 1-year low of $100.57 and a 1-year high of $177.37.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts' consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion during the quarter, compared to analysts' expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.30) earnings per share.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a boost 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 2.16%. Allstate's payout ratio is presently 81.24%.

Insider Activity at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the company's stock in a transaction 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 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 SEC, which is available at this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO John C. Pintozzi sold 4,000 shares of the 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 of the company's stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allstate

Hedge funds have recently made changes to their positions in the business. Confluence Wealth Services Inc. increased its stake in Allstate by 0.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider's stock valued at $1,306,000 after buying an additional 65 shares during the period. Gradient Investments LLC lifted its position in Allstate by 1.6% in the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider's stock valued at $578,000 after purchasing an additional 66 shares during the period. Brighton Jones LLC lifted its position in Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider's stock valued at $541,000 after purchasing an additional 71 shares during the period. SVB Wealth LLC boosted its holdings in Allstate by 1.2% in the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider's stock valued at $864,000 after purchasing an additional 72 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider's stock worth $754,000 after buying an additional 82 shares in the last quarter. 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.