The Allstate Co. (NYSE:ALL) to Post Q1 2024 Earnings of $2.77 Per Share, Zacks Research Forecasts

The Allstate Co. (NYSE:ALL) – Equities research analysts at Zacks Research raised their Q1 2024 earnings estimates for shares of Allstate in a report issued on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now anticipates that the insurance provider will post earnings per share of $2.77 for the quarter, up from their prior estimate of $2.76. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. Zacks Research also issued estimates for Allstate’s Q3 2024 earnings at $2.79 EPS, Q1 2025 earnings at $3.74 EPS, Q1 2026 earnings at $3.73 EPS and FY2026 earnings at $17.32 EPS.

ALL has been the topic of a number of other reports. TD Cowen assumed coverage on shares of Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective on the stock. Evercore ISI lifted their price target on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley increased their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their target price on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, UBS Group increased their price target on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average price target of $173.71.

Allstate Trading Down 1.4 %

NYSE:ALL opened at $170.00 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The firm has a market cap of $44.72 billion, a PE ratio of -137.10, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The stock has a fifty day moving average price of $165.09 and a 200 day moving average price of $149.14. Allstate has a 12-month low of $100.57 and a 12-month high of $176.93.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping the consensus estimate of $3.87 by $1.95. The firm had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.36) EPS.

Institutional Investors Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Allstate by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock worth $660,318,000 after acquiring an additional 172,250 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Allstate by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after acquiring an additional 90,390 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Allstate by 23.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after acquiring an additional 782,696 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after purchasing an additional 1,311,095 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated 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 directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

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 given a dividend of $0.92 per share. The ex-dividend date was Friday, March 1st. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.16%. Allstate’s dividend payout ratio 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.