Roth Capital Analysts Boost Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Equities research analysts at Roth Capital boosted their Q2 2024 EPS estimates for Allstate in a research note issued on Wednesday, May 1st. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings per share of $1.93 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.

Allstate (NYSE:ALL) last released its quarterly earnings results 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 business had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. During the same quarter in the previous year, the business earned ($1.30) EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis.

ALL has been the subject of several other research reports. Roth Mkm increased their target price on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and lifted their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Raymond James lifted their price target on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. Finally, Evercore ISI upped their price objective on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average target price of $174.18.

Allstate Trading Down 1.1 %

NYSE ALL opened at $168.19 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $166.44 and a 200 day simple moving average of $151.91. Allstate has a 12 month low of $100.57 and a 12 month high of $177.37. The firm has a market capitalization of $44.39 billion, a P/E ratio of 37.13, a PEG ratio of 0.39 and a beta of 0.51.

Allstate Increases Dividend

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

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated 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 approximately $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction 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 owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was 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 $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its position in Allstate by 1.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 47,248 shares of the insurance provider’s stock valued at $5,264,000 after purchasing an additional 466 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Allstate during the 3rd quarter worth $209,000. Stratos Wealth Partners LTD. grew its position in Allstate by 21.6% in the third quarter. Stratos Wealth Partners LTD. now owns 9,032 shares of the insurance provider’s stock worth $1,006,000 after acquiring an additional 1,607 shares in the last quarter. Brown Advisory Inc. increased its stake in Allstate by 6.5% in the third quarter. Brown Advisory Inc. now owns 29,311 shares of the insurance provider’s stock valued at $3,266,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Forsta AP Fonden raised its position in Allstate by 2.5% during the third quarter. Forsta AP Fonden now owns 57,400 shares of the insurance provider’s stock valued at $6,395,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.