William Blair Weighs in on The Allstate Co.’s Q2 2023 Earnings (NYSE:ALL)

The Allstate Co. (NYSE:ALL – Get Rating) – Research analysts at William Blair reduced their Q2 2023 earnings estimates for shares of Allstate in a research note issued to investors on Thursday, January 19th. William Blair analyst A. Klauber now expects that the insurance provider will post earnings per share of $1.13 for the quarter, down from their prior forecast of $1.14. The consensus estimate for Allstate’s current full-year earnings is $2.19 per share.

Several other equities research analysts have also commented on the stock. Morgan Stanley reduced their price target on shares of Allstate from $140.00 to $137.00 and set an “equal weight” rating for the company in a report on Tuesday, November 22nd. StockNews.com initiated coverage on shares of Allstate in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler boosted their price target on shares of Allstate from $147.00 to $153.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Evercore ISI reduced their price target on shares of Allstate from $151.00 to $144.00 and set an “in-line” rating for the company in a report on Thursday. Finally, Barclays reduced their price target on shares of Allstate from $144.00 to $126.00 and set an “equal weight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.85.

Allstate Trading Up 0.8 %

Shares of ALL opened at $125.65 on Friday. Allstate has a 1-year low of $111.85 and a 1-year high of $144.46. The company has a 50-day moving average of $133.83 and a 200 day moving average of $128.45. The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of -88.49, a PEG ratio of 3.19 and a beta of 0.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.39 and a quick ratio of 0.39.

Allstate (NYSE:ALL – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported ($1.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.57) by $0.01. Allstate had a negative net margin of 0.41% and a positive return on equity of 5.13%. The company had revenue of $13.38 billion during the quarter, compared to analyst estimates of $13.30 billion. During the same quarter last year, the business posted $0.73 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, November 30th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Tuesday, November 29th. Allstate’s payout ratio is -239.44%.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the company. Field & Main Bank purchased a new stake in Allstate during the second quarter worth about $25,000. Accurate Wealth Management LLC acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Curi Wealth Management LLC raised its position in shares of Allstate by 7,266.7% in the second quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 218 shares during the last quarter. Heritage Wealth Management LLC acquired a new position in shares of Allstate in the second quarter valued at approximately $30,000. Finally, Cowa LLC acquired a new position in shares of Allstate in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 77.48% of the company’s stock.

Allstate Company Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.