The Allstate Co. to Post Q2 2022 Earnings of $0.68 Per Share, Jefferies Financial Group Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALLGet Rating) – Stock analysts at Jefferies Financial Group decreased their Q2 2022 earnings estimates for Allstate in a research report issued to clients and investors on Tuesday, May 10th. Jefferies Financial Group analyst Y. Kinar now anticipates that the insurance provider will earn $0.68 per share for the quarter, down from their prior estimate of $0.90. Jefferies Financial Group also issued estimates for Allstate’s Q3 2022 earnings at $2.51 EPS, Q4 2022 earnings at $3.54 EPS and FY2022 earnings at $9.30 EPS.

Allstate (NYSE:ALLGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21). The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $11.14 billion. Allstate had a net margin of 7.20% and a return on equity of 12.50%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.11 earnings per share.

Several other analysts have also recently issued reports on the company. Piper Sandler decreased their price objective on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Credit Suisse Group started coverage on Allstate in a report on Thursday, April 28th. They set an “outperform” rating and a $188.00 price objective on the stock. Wells Fargo & Company upped their price objective on Allstate from $105.00 to $123.00 and gave the stock an “underweight” rating in a report on Tuesday, April 12th. The Goldman Sachs Group raised Allstate from a “sell” rating to a “buy” rating and upped their price objective for the stock from $111.00 to $142.00 in a report on Wednesday, March 2nd. Finally, Zacks Investment Research raised Allstate from a “sell” rating to a “hold” rating and set a $104.00 price objective on the stock in a report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $142.31.

ALL stock opened at $128.19 on Thursday. Allstate has a 1-year low of $106.11 and a 1-year high of $144.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $35.25 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 2.55 and a beta of 0.82. The business has a 50 day simple moving average of $134.03 and a two-hundred day simple moving average of $124.03.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Monday, February 28th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Friday, February 25th. This is an increase from Allstate’s previous quarterly dividend of $0.81. Allstate’s dividend payout ratio is 28.48%.

In other news, CAO John C. Pintozzi sold 3,000 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $123.87, for a total transaction of $371,610.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Allstate by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,850,782 shares of the insurance provider’s stock worth $3,442,082,000 after purchasing an additional 745,096 shares during the last quarter. Invesco Ltd. raised its stake in shares of Allstate by 22.2% in the fourth quarter. Invesco Ltd. now owns 7,232,598 shares of the insurance provider’s stock worth $850,916,000 after purchasing an additional 1,314,237 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Allstate by 2.2% in the fourth quarter. Deutsche Bank AG now owns 4,997,180 shares of the insurance provider’s stock worth $587,916,000 after purchasing an additional 107,977 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Allstate by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,892,174 shares of the insurance provider’s stock worth $575,564,000 after purchasing an additional 119,586 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Allstate in the fourth quarter worth about $560,036,000. Institutional investors own 75.84% of the company’s stock.

Allstate Company Profile (Get Rating)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Earnings History and Estimates for Allstate (NYSE:ALL)

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