Allstate FY2027 Earnings Forecast Lifted by DOWLING & PARTN

The Allstate Corporation (NYSE:ALL) – DOWLING & PARTN upped their FY2027 earnings estimates for Allstate in a research report issued to clients and investors on Tuesday, November 10th. DOWLING & PARTN analyst D. Lukpanov now expects that the insurance provider will post earnings of $26.50 per share for the year, up from their prior estimate of $25.50. The consensus estimate for Allstate’s current full-year earnings is $37.33 per share.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $2.87. The business had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $15.87 billion. Allstate had a return on equity of 38.37% and a net margin of 16.57%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $11.17 earnings per share.

Several other brokerages have also recently weighed in on ALL. UBS Group lifted their price objective on Allstate from $275.00 to $283.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup increased their target price on Allstate from $215.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, November 6th. Morgan Stanley raised their price target on Allstate from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, TD Cowen boosted their price target on Allstate from $231.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $273.48.

Allstate Trading Up 1.7%

Shares of NYSE:ALL opened at $266.68 on Friday. The business’s 50 day simple moving average is $246.06 and its 200 day simple moving average is $231.16. Allstate has a 1 year low of $191.13 and a 1 year high of $281.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $65.99 billion, a P/E ratio of 6.04, a P/E/G ratio of 0.56 and a beta of 0.13.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Monday, November 30th will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, November 30th. This represents a $4.32 annualized dividend and a yield of 1.6%. Allstate’s dividend payout ratio is presently 9.78%.

Institutional Investors Weigh In On Allstate

A number of large investors have recently modified their holdings of ALL. Kendall Capital Management raised its holdings in shares of Allstate by 2.4% during the 3rd quarter. Kendall Capital Management now owns 1,730 shares of the insurance provider’s stock worth $384,000 after buying an additional 40 shares in the last quarter. Insight Inv LLC boosted its stake in Allstate by 0.3% in the third quarter. Insight Inv LLC now owns 13,682 shares of the insurance provider’s stock valued at $3,035,000 after buying an additional 44 shares in the last quarter. Cornerstone Financial Management LLC boosted its stake in Allstate by 24.9% in the second quarter. Cornerstone Financial Management LLC now owns 226 shares of the insurance provider’s stock valued at $54,000 after buying an additional 45 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its position in Allstate by 3.2% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,436 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 45 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its position in Allstate by 2.6% in the second quarter. Capital Advisors Inc. OK now owns 1,827 shares of the insurance provider’s stock valued at $435,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

About Allstate

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.