Q3 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Lifted by Analyst

The Allstate Co. (NYSE:ALL) – Investment analysts at William Blair raised their Q3 2024 earnings per share (EPS) estimates for shares of Allstate in a research report issued on Thursday, August 1st. William Blair analyst A. Klauber now anticipates that the insurance provider will earn $4.26 per share for the quarter, up from their previous forecast of $4.04. The consensus estimate for Allstate’s current full-year earnings is $13.64 per share. William Blair also issued estimates for Allstate’s Q4 2024 earnings at $6.17 EPS and Q4 2025 earnings at $6.47 EPS.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.42) earnings per share.

ALL has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. The Goldman Sachs Group lifted their price target on Allstate from $197.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America increased their price objective on Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. Finally, Evercore ISI increased their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.06.

Allstate Stock Up 0.5 %

NYSE:ALL opened at $169.79 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. Allstate has a twelve month low of $104.29 and a twelve month high of $180.87. The company has a market cap of $44.81 billion, a PE ratio of 37.48, a P/E/G ratio of 1.86 and a beta of 0.48. The company’s 50 day moving average is $164.76 and its two-hundred day moving average is $164.45.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a yield of 2.17%. Allstate’s payout ratio is 81.24%.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Institutional investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $456,000. Rafferty Asset Management LLC increased its stake in Allstate by 5.7% during the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after buying an additional 4,987 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Allstate during the fourth quarter valued at approximately $5,927,000. Mizuho Markets Americas LLC purchased a new position in shares of Allstate in the fourth quarter valued at approximately $52,042,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Allstate by 55.8% in the first quarter. BNP Paribas Financial Markets now owns 218,629 shares of the insurance provider’s stock worth $37,825,000 after acquiring an additional 78,316 shares during 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.