Q1 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Lifted by Roth Capital

The Allstate Co. (NYSE:ALL) – Research analysts at Roth Capital raised their Q1 2024 earnings estimates for shares of Allstate in a research report issued on Monday, April 8th. Roth Capital analyst H. Fong now anticipates that the insurance provider will post earnings of $3.59 per share for the quarter, up from their previous forecast of $3.50. The consensus estimate for Allstate’s current full-year earnings is $13.30 per share. Roth Capital also issued estimates for Allstate’s Q2 2024 earnings at $1.66 EPS, Q3 2024 earnings at $3.26 EPS, FY2024 earnings at $13.00 EPS and Q1 2025 earnings at $4.46 EPS.

A number of other equities analysts also recently weighed in on ALL. BMO Capital Markets upped their price target on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research note on Friday, January 19th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and upped their price target for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. The Goldman Sachs Group upped their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. UBS Group upped their price objective on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Piper Sandler upped their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.50.

Allstate Price Performance

Shares of NYSE:ALL opened at $169.75 on Tuesday. Allstate has a 12-month low of $100.57 and a 12-month high of $174.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The company has a market cap of $44.66 billion, a P/E ratio of -136.90, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The company’s fifty day moving average is $162.66 and its two-hundred day moving average is $144.62.

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

Allstate Increases Dividend

The company also recently declared 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 represents a $3.68 dividend on an annualized basis and a yield of 2.17%. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio is -296.77%.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the 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 completion of the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the 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 sale, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 31,000 shares of the 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 transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after purchasing an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Allstate by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,123,728 shares of the insurance provider’s stock worth $1,137,160,000 after purchasing an additional 75,898 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 172,250 shares in the last quarter. Geode Capital Management LLC raised its position in Allstate by 1.1% in the first quarter. Geode Capital Management LLC now owns 5,815,257 shares of the insurance provider’s stock worth $643,015,000 after purchasing an additional 63,438 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Allstate by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock worth $472,324,000 after buying an additional 53,821 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.