The Allstate Co. (NYSE:ALL) to Post FY2024 Earnings of $14.80 Per Share, Roth Capital Forecasts

The Allstate Co. (NYSE:ALL) – Research analysts at Roth Capital boosted their FY2024 earnings per share estimates for shares of Allstate in a report released on Thursday, August 1st. Roth Capital analyst H. Fong now expects that the insurance provider will earn $14.80 per share for the year, up from their previous forecast of $12.68. The consensus estimate for Allstate’s current full-year earnings is $13.64 per share.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $194.00 price target on shares of Allstate in a report on Friday, July 5th. StockNews.com upgraded Allstate from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI increased 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. Bank of America increased their price target on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets increased their price target on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $184.06.

Allstate Stock Up 0.5 %

Shares of Allstate stock opened at $169.79 on Monday. Allstate has a one year low of $104.29 and a one year high of $180.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50-day moving average is $164.76 and its 200 day moving average is $164.45. The firm has a market cap of $44.81 billion, a price-to-earnings ratio of 37.48, a PEG ratio of 1.86 and a beta of 0.48.

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

Allstate Dividend Announcement

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

Insider Activity at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Allstate

A number of large investors have recently bought and sold shares of the company. Quest Partners LLC increased its position in Allstate by 63.5% in the second quarter. Quest Partners LLC now owns 12,423 shares of the insurance provider’s stock worth $1,983,000 after buying an additional 4,825 shares during the last quarter. Oak Thistle LLC purchased a new stake in Allstate in the second quarter worth $986,000. Mount Lucas Management LP purchased a new stake in Allstate in the second quarter worth $501,000. Morton Community Bank increased its position in Allstate by 3.9% in the second quarter. Morton Community Bank now owns 20,340 shares of the insurance provider’s stock worth $3,247,000 after buying an additional 762 shares during the last quarter. Finally, Waddell & Associates LLC increased its position in Allstate by 2.2% in the second quarter. Waddell & Associates LLC now owns 4,723 shares of the insurance provider’s stock worth $754,000 after buying an additional 103 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.