Q2 2024 EPS Estimates for The Allstate Co. Raised by William Blair (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Investment analysts at William Blair boosted their Q2 2024 EPS estimates for Allstate in a report issued on Thursday, May 2nd. William Blair analyst A. Klauber now expects that the insurance provider will earn $2.27 per share for the quarter, up from their prior forecast of $2.13. The consensus estimate for Allstate’s current full-year earnings is $14.57 per share. William Blair also issued estimates for Allstate’s Q3 2024 earnings at $3.57 EPS, Q4 2024 earnings at $5.50 EPS, Q1 2025 earnings at $4.55 EPS, Q2 2025 earnings at $3.00 EPS and Q4 2025 earnings at $5.98 EPS.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for 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 firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted ($1.30) earnings per share.

Other research analysts also recently issued research reports about the company. Evercore ISI boosted their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their price objective on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $180.00 in a research note on Tuesday, January 9th. The Goldman Sachs Group increased their price target on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Piper Sandler boosted their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $174.18.

Allstate Price Performance

Allstate stock opened at $168.19 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. Allstate has a 52 week low of $100.57 and a 52 week high of $177.37. The stock has a market capitalization of $44.39 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. The stock has a fifty day moving average of $166.44 and a 200-day moving average of $151.91.

Hedge Funds Weigh In On Allstate

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

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the company’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 sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’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 approximately $1,712,069.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of Allstate 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 sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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 issued a dividend of $0.92 per share. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.19%. Allstate’s dividend payout ratio is presently 81.24%.

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.