The Allstate Co. (NYSE:ALL) Expected to Post Q3 2024 Earnings of $3.44 Per Share

The Allstate Co. (NYSE:ALL) – Roth Capital lowered their Q3 2024 earnings per share (EPS) estimates for Allstate in a research report issued on Thursday, August 1st. Roth Capital analyst H. Fong now anticipates that the insurance provider will post earnings of $3.44 per share for the quarter, down from their previous forecast of $3.50. The consensus estimate for Allstate’s current full-year earnings is $13.64 per share. Roth Capital also issued estimates for Allstate’s Q4 2024 earnings at $4.63 EPS, Q1 2025 earnings at $4.78 EPS, Q2 2025 earnings at $2.59 EPS, Q3 2025 earnings at $4.42 EPS and Q4 2025 earnings at $5.75 EPS.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion during 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 quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.42) earnings per share.

ALL has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm increased their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com upgraded shares of Allstate from a “buy” rating to a “strong-buy” rating in a research note on Thursday. BMO Capital Markets raised shares of Allstate from a “market perform” rating to an “outperform” rating and raised their price target for the company from $190.00 to $191.00 in a research report on Thursday, July 18th. Finally, Wells Fargo & Company upped their price objective on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $183.24.

Allstate Trading Down 0.3 %

NYSE:ALL opened at $176.82 on Friday. Allstate has a 12 month low of $104.29 and a 12 month high of $180.87. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 1.86 and a beta of 0.48. The company has a 50-day moving average price of $164.68 and a 200-day moving average price of $164.25. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Institutional Trading of Allstate

A number of institutional investors have recently bought and sold shares of the stock. Premier Path Wealth Partners LLC raised its position in Allstate by 2.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after buying an additional 61 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in shares of Allstate by 0.9% during the first quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after purchasing an additional 65 shares during the last quarter. Brighton Jones LLC lifted its position in Allstate by 1.9% during the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 71 shares during the period. SVB Wealth LLC boosted its holdings in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after purchasing an additional 72 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by company insiders.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, August 30th. Allstate’s payout ratio is 81.24%.

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.