The Allstate Co. to Post Q3 2024 Earnings of $2.94 Per Share, Zacks Research Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Research analysts at Zacks Research boosted their Q3 2024 EPS estimates for Allstate in a research note issued to investors on Wednesday, September 25th. Zacks Research analyst Z. Masood now expects that the insurance provider will post earnings of $2.94 per share for the quarter, up from their prior estimate of $2.93. The consensus estimate for Allstate’s current full-year earnings is $15.20 per share. Zacks Research also issued estimates for Allstate’s Q4 2024 earnings at $4.64 EPS, FY2024 earnings at $14.32 EPS and Q2 2026 earnings at $4.31 EPS.

ALL has been the topic of several other research reports. BMO Capital Markets upped their target price on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. Morgan Stanley lowered their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Piper Sandler upped their target price on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Barclays started coverage on shares of Allstate in a report on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Trading Down 0.2 %

Shares of Allstate stock opened at $188.36 on Monday. The firm has a market capitalization of $49.71 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The company’s fifty day moving average price is $181.32 and its two-hundred day moving average price is $171.47. Allstate has a 52-week low of $109.01 and a 52-week high of $193.97.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.42) EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new position in Allstate in the first quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the first quarter valued at about $26,000. Versant Capital Management Inc grew its position in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. bought a new position in Allstate in the second quarter valued at about $38,000. Finally, MCF Advisors LLC grew its position in Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of Allstate 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 owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 238,305 shares of company stock valued at $43,082,657. 1.80% of the stock is currently owned by corporate insiders.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

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.