FY2024 Earnings Forecast for Allstate Issued By Roth Capital

The Allstate Co. (NYSE:ALL) – Roth Capital increased their FY2024 earnings per share estimates for Allstate in a research note issued on Wednesday, October 30th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of $16.00 per share for the year, up from their prior estimate of $13.48. The consensus estimate for Allstate’s current full-year earnings is $14.16 per share. Roth Capital also issued estimates for Allstate’s Q4 2024 earnings at $5.35 EPS, Q1 2025 earnings at $5.80 EPS, Q2 2025 earnings at $3.16 EPS and FY2025 earnings at $19.00 EPS.

Several other equities analysts have also recently commented on the company. Morgan Stanley upped their price target on Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, October 21st. TD Cowen lifted their price objective on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company cut their price target on Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. BMO Capital Markets lifted their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, UBS Group lifted their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $207.75.

Allstate Stock Performance

ALL opened at $182.37 on Monday. Allstate has a 52-week low of $127.93 and a 52-week high of $198.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.40. The company has a market cap of $48.29 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.88 and a beta of 0.48. The stock has a 50-day moving average of $188.85 and a 200-day moving average of $175.41.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now owns 19,163 shares in the company, valued at approximately $3,431,901.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,530 shares of company stock valued at $34,967,665. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allstate

A number of hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in Allstate during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate during the 3rd quarter worth approximately $29,000. Versant Capital Management Inc boosted its position in Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after buying an additional 78 shares during the period. Family Firm Inc. acquired a new stake in Allstate during the 2nd quarter worth approximately $38,000. Finally, MCF Advisors LLC boosted its position in Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after buying an additional 84 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.