Q3 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Raised by Analyst

The Allstate Co. (NYSE:ALL) – Stock analysts at Zacks Research upped their Q3 2024 earnings per share estimates for shares of Allstate in a note issued to investors on Wednesday, September 25th. Zacks Research analyst Z. Masood now expects that the insurance provider will post earnings per share of $2.94 for the quarter, up from their prior estimate of $2.93. The consensus estimate for Allstate’s current full-year earnings is $15.20 per share. Zacks Research also issued estimates for Allstate’s Q4 2024 earnings at $4.64 EPS, FY2024 earnings at $14.32 EPS and Q2 2026 earnings at $4.31 EPS.

A number of other analysts have also weighed in on ALL. Bank of America raised their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. The Goldman Sachs Group lifted their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets raised their price objective on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Allstate Trading Up 0.1 %

NYSE:ALL opened at $189.92 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $50.12 billion, a P/E ratio of 41.92, a PEG ratio of 1.81 and a beta of 0.48. The company’s 50-day simple moving average is $181.94 and its 200 day simple moving average is $171.88. Allstate has a one year low of $109.01 and a one year high of $193.97.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the previous year, the firm earned ($4.42) earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.

Institutional Trading of Allstate

Several institutional investors have recently modified their holdings of ALL. Dimensional Fund Advisors LP grew its holdings in shares of Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares in the last quarter. Hsbc Holdings PLC increased its stake in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Allstate by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after purchasing an additional 8,454 shares during the period. AQR Capital Management LLC grew its stake in shares of Allstate by 181.6% in the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after acquiring an additional 75,698 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. In the last three months, insiders sold 238,305 shares of company stock valued at $43,082,657. Corporate insiders own 1.80% of the company’s stock.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. Allstate’s payout ratio is presently 81.24%.

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.