The Allstate Co. (NYSE:ALL) to Post FY2024 Earnings of $14.80 Per Share, Roth Capital Forecasts

The Allstate Co. (NYSE:ALL) – Roth Capital boosted their FY2024 EPS estimates for shares of Allstate in a report issued on Thursday, August 1st. Roth Capital analyst H. Fong now anticipates that the insurance provider will post earnings per share of $14.80 for the year, up from their previous forecast of $12.68. The consensus estimate for Allstate’s current full-year earnings is $13.64 per share.

ALL has been the topic of several other research reports. BMO Capital Markets raised their price target on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. StockNews.com upgraded shares of Allstate from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. Finally, Bank of America lifted their price objective on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.06.

Allstate Trading Up 0.5 %

Shares of ALL stock opened at $169.79 on Monday. Allstate has a 1-year low of $104.29 and a 1-year high of $180.87. The firm’s 50-day simple moving average is $164.76 and its 200-day simple moving average is $164.45. 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 firm has a market cap of $44.81 billion, a P/E ratio of 37.48, a PEG ratio of 1.86 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $1.28. The company had revenue of $15.71 billion for 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 firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned ($4.42) EPS.

Institutional Investors Weigh In On Allstate

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC raised its stake in shares of Allstate by 63.5% during the second quarter. Quest Partners LLC now owns 12,423 shares of the insurance provider’s stock valued at $1,983,000 after purchasing an additional 4,825 shares in the last quarter. Oak Thistle LLC bought a new stake in Allstate in the second quarter worth about $986,000. Mount Lucas Management LP bought a new stake in Allstate in the second quarter worth about $501,000. Morton Community Bank raised its position in Allstate by 3.9% in the second quarter. Morton Community Bank now owns 20,340 shares of the insurance provider’s stock worth $3,247,000 after acquiring an additional 762 shares in the last quarter. Finally, Waddell & Associates LLC raised its position in Allstate by 2.2% in the second quarter. Waddell & Associates LLC now owns 4,723 shares of the insurance provider’s stock worth $754,000 after acquiring an additional 103 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

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.