William Blair Equities Analysts Reduce Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Stock analysts at William Blair cut their Q1 2024 earnings per share estimates for Allstate in a report released on Thursday, April 18th. William Blair analyst A. Klauber now forecasts that the insurance provider will post earnings of $5.10 per share for the quarter, down from their prior estimate of $5.50. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. William Blair also issued estimates for Allstate’s FY2024 earnings at $16.36 EPS.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. The Goldman Sachs Group upped their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. BMO Capital Markets increased their target price on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. TheStreet raised Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price objective for the company from $158.00 to $190.00 in a research report on Thursday, March 28th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.71.

Allstate Trading Down 0.1 %

ALL opened at $175.27 on Monday. Allstate has a 12 month low of $100.57 and a 12 month high of $176.93. The stock has a market capitalization of $46.11 billion, a price-to-earnings ratio of -141.35, a PEG ratio of 0.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The business has a fifty day moving average price of $164.50 and a 200 day moving average price of $148.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALL. Confluence Wealth Services Inc. grew its position in Allstate by 0.9% during the 1st 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 in the last quarter. Gradient Investments LLC boosted its holdings in Allstate by 1.6% in the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after purchasing an additional 66 shares in the last quarter. Brighton Jones LLC boosted its holdings in Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after purchasing an additional 71 shares in the last quarter. 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 worth $864,000 after purchasing an additional 72 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 in the company, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.10%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio (DPR) 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.