Zacks Research Analysts Boost Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALL - Free Report) - Investment analysts at Zacks Research upped their Q3 2024 earnings per share estimates for shares of Allstate in a research report issued to clients and investors on Wednesday, May 15th. Zacks Research analyst Z. Masood now expects that the insurance provider will post earnings of $2.95 per share for the quarter, up from their prior forecast of $2.79. The consensus estimate for Allstate's current full-year earnings is $15.00 per share. Zacks Research also issued estimates for Allstate's Q4 2024 earnings at $5.11 EPS, Q2 2025 earnings at $2.96 EPS, Q3 2025 earnings at $3.95 EPS, FY2025 earnings at $16.09 EPS and FY2026 earnings at $18.15 EPS.

Several other analysts have also recently commented on the stock. Piper Sandler raised their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Raymond James raised 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. TheStreet raised Allstate from a "c+" rating to a "b" rating in a research report on Wednesday, February 7th. Evercore ISI raised their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their target price on Allstate from $185.00 to $193.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $174.59.

Allstate Trading Up 1.7 %

Shares of ALL stock traded up $2.81 during trading hours on Thursday, reaching $169.08. 1,173,733 shares of the stock traded hands, compared to its average volume of 1,642,398. The business has a fifty day moving average price of $167.93 and a 200 day moving average price of $153.64. Allstate has a 1-year low of $100.57 and a 1-year high of $177.37. 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 firm has a market capitalization of $44.62 billion, a PE ratio of 36.70, a PEG ratio of 0.38 and a beta of 0.51.

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

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a $0.92 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.18%. Allstate's dividend payout ratio is presently 81.24%.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 63,731 shares of the company's stock, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company's 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 completion of the sale, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Institutional Trading of Allstate

Several hedge funds have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Allstate during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Allstate in the 1st quarter valued at about $25,000. Private Wealth Management Group LLC bought a new stake in shares of Allstate in the fourth quarter valued at about $25,000. Rise Advisors LLC acquired a new position in shares of Allstate during the first quarter worth about $26,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Allstate in the 1st quarter valued at approximately $26,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Company Profile

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.