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 upped their Q3 2024 earnings estimates for shares of Allstate in a report issued on Wednesday, September 25th. Zacks Research analyst Z. Masood now anticipates that the insurance provider will post earnings per share of $2.94 for the quarter, up from their prior forecast 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.

Several other research firms have also recently issued reports on ALL. Barclays assumed coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price objective for the company. StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company cut their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Piper Sandler lifted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Allstate Price Performance

Allstate stock opened at $188.36 on Monday. The stock has a market cap of $49.71 billion, a P/E ratio of 41.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a fifty day simple moving average of $181.32 and a 200-day simple moving average of $171.47. Allstate has a 12-month low of $109.01 and a 12-month high of $193.97. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the company posted ($4.42) EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Palestra Capital Management LLC bought a new position in shares of Allstate in the 4th quarter worth about $83,561,000. Balyasny Asset Management L.P. acquired a new stake in shares of Allstate in the 4th quarter worth about $81,571,000. Artemis Investment Management LLP acquired a new stake in shares of Allstate in the 1st quarter worth about $95,764,000. AQR Capital Management LLC increased its holdings in shares of Allstate by 181.6% in the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after acquiring an additional 464,337 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after acquiring an additional 405,553 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the transaction, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders sold a total of 238,305 shares of company stock valued at $43,082,657 over the last 90 days. Insiders own 1.80% of the company’s stock.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date 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.