The Allstate Co. (NYSE:ALL) to Post Q1 2024 Earnings of $2.77 Per Share, Zacks Research Forecasts

The Allstate Co. (NYSE:ALL) – Analysts at Zacks Research increased their Q1 2024 earnings per share estimates for Allstate in a research note issued to investors on Wednesday, April 24th. Zacks Research analyst D. Chatterjee now anticipates that the insurance provider will post earnings of $2.77 per share for the quarter, up from their previous estimate of $2.76. The consensus estimate for Allstate’s current full-year earnings is $13.44 per share. Zacks Research also issued estimates for Allstate’s Q3 2024 earnings at $2.79 EPS, Q1 2025 earnings at $3.74 EPS, Q1 2026 earnings at $3.73 EPS and FY2026 earnings at $17.32 EPS.

Several other brokerages also recently weighed in on ALL. Keefe, Bruyette & Woods boosted their price objective on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Roth Mkm upped their target price on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and upped their target price for the company from $158.00 to $190.00 in a report on Thursday, March 28th. Finally, TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate Stock Performance

Shares of ALL stock opened at $170.00 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $176.93. The stock has a 50 day moving average price of $165.09 and a two-hundred day moving average price of $149.14. The company has a market capitalization of $44.72 billion, a P/E ratio of -137.10, a PEG ratio of 0.42 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating the consensus estimate of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter in the previous year, the company posted ($1.36) earnings per share. The business’s revenue was up 8.7% on a year-over-year basis.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is currently -296.77%.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Allstate

Institutional investors have recently modified their holdings of the business. AE Wealth Management LLC boosted its position in Allstate by 18.2% in the third quarter. AE Wealth Management LLC now owns 13,363 shares of the insurance provider’s stock worth $1,489,000 after purchasing an additional 2,059 shares during the last quarter. IFP Advisors Inc boosted its position in Allstate by 171.1% in the third quarter. IFP Advisors Inc now owns 930 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 587 shares during the last quarter. RFG Advisory LLC purchased a new position in Allstate in the third quarter worth about $213,000. Flagship Harbor Advisors LLC purchased a new position in Allstate in the third quarter worth about $202,000. Finally, Washington Trust Advisors Inc. boosted its position in Allstate by 13.2% in the third quarter. Washington Trust Advisors Inc. now owns 1,720 shares of the insurance provider’s stock worth $192,000 after purchasing an additional 200 shares during the last quarter. 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.