Q2 2024 EPS Estimates for The Allstate Co. Increased by Roth Capital (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Roth Capital upped their Q2 2024 earnings per share (EPS) estimates for shares of Allstate in a research note issued on Wednesday, May 1st. Roth Capital analyst H. Fong now anticipates that the insurance provider will earn $1.93 per share for the quarter, up from their prior estimate of $1.66. The consensus estimate for Allstate’s current full-year earnings is $14.57 per share. Roth Capital also issued estimates for Allstate’s Q3 2024 earnings at $3.50 EPS and FY2024 earnings at $15.25 EPS.

Several other equities analysts have also issued reports on the company. UBS Group upped their target price on Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a report on Monday, February 12th. Roth Mkm raised their target price on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Raymond James boosted their price target on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. Wells Fargo & Company raised their price objective on shares of Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $174.18.

Allstate Trading Down 0.6 %

NYSE:ALL opened at $168.18 on Monday. Allstate has a 52 week low of $100.57 and a 52 week high of $177.37. The firm has a 50-day moving average price of $166.06 and a two-hundred day moving average price of $151.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.37 and a current ratio of 0.36. The firm has a market cap of $44.39 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same quarter in the prior year, the company posted ($1.30) earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.19%. Allstate’s payout ratio is 81.24%.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, 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 document filed with the SEC, which is available at this link. In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on 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 transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now 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 owned by company insiders.

Hedge Funds Weigh In On Allstate

A number of large investors have recently bought and sold shares of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Allstate during the first quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of Allstate in the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Allstate in the fourth quarter worth $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Allstate during the third quarter valued at $25,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.