Q2 2024 Earnings Estimate for The Allstate Co. (NYSE:ALL) Issued By William Blair

The Allstate Co. (NYSE:ALL) – Analysts at William Blair lowered their Q2 2024 EPS estimates for Allstate in a note issued to investors on Thursday, June 20th. William Blair analyst A. Klauber now anticipates that the insurance provider will earn ($0.43) per share for the quarter, down from their prior estimate of $2.27. The consensus estimate for Allstate’s current full-year earnings is $14.99 per share. William Blair also issued estimates for Allstate’s Q3 2024 earnings at $4.04 EPS, Q4 2024 earnings at $5.99 EPS and FY2024 earnings at $14.70 EPS.

Several other brokerages have also weighed in on ALL. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 target price on shares of Allstate in a research note on Friday. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and increased their target price for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. The Goldman Sachs Group increased their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Piper Sandler raised their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.88.

Allstate Trading Down 1.3 %

Shares of ALL stock opened at $160.51 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $42.36 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50. The company has a 50-day moving average of $166.53 and a two-hundred day moving average of $159.54. Allstate has a 1-year low of $100.57 and a 1-year high of $177.37.

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

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.29%. Allstate’s payout ratio is currently 81.24%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 31,000 shares of Allstate 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 directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. purchased a new position in Allstate in the 1st quarter valued at $25,000. Private Wealth Management Group LLC purchased a new position in Allstate in the 4th quarter valued at $25,000. Rise Advisors LLC purchased a new position in Allstate in the 1st quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new position in Allstate in the 1st quarter valued at $26,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Allstate in the 4th quarter valued at $36,000. 76.47% of the stock is owned by institutional investors and hedge funds.

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.