Q1 2024 EPS Estimates for The Allstate Co. (NYSE:ALL) Lifted by Analyst

The Allstate Co. (NYSE:ALL) – Investment analysts at William Blair increased their Q1 2024 earnings per share (EPS) estimates for Allstate in a research report issued to clients and investors on Monday, March 25th. William Blair analyst A. Klauber now anticipates that the insurance provider will earn $5.50 per share for the quarter, up from their prior estimate of $3.99. The consensus estimate for Allstate’s current full-year earnings is $13.11 per share. William Blair also issued estimates for Allstate’s FY2024 earnings at $16.77 EPS.

Several other research analysts also recently commented on the company. The Goldman Sachs Group increased their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $171.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. TD Cowen started coverage on shares of Allstate in a research note on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective for the company. Morgan Stanley upgraded Allstate from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $117.00 to $171.00 in a report on Thursday, January 4th. Finally, HSBC upgraded Allstate from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $158.00 to $190.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.56.

Allstate Price Performance

NYSE:ALL opened at $169.78 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $159.13 and a two-hundred day moving average of $140.17. Allstate has a 12 month low of $100.57 and a 12 month high of $171.61.

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

Hedge Funds Weigh In On Allstate

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Allstate by 0.8% during the second quarter. BlackRock Inc. now owns 22,294,372 shares of the insurance provider’s stock worth $2,430,978,000 after buying an additional 181,050 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Allstate by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,123,728 shares of the insurance provider’s stock valued at $1,137,160,000 after acquiring an additional 75,898 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Allstate by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock worth $660,318,000 after acquiring an additional 172,250 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Allstate by 1.1% in the first quarter. Geode Capital Management LLC now owns 5,815,257 shares of the insurance provider’s stock valued at $643,015,000 after acquiring an additional 63,438 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’s 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 directly owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, March 1st. Allstate’s dividend payout ratio (DPR) is presently -296.77%.

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.