Q2 2024 EPS Estimates for The Allstate Co. Reduced by William Blair (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Equities researchers at William Blair decreased their Q2 2024 EPS estimates for Allstate in a research report issued to clients and investors on Thursday, June 20th. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings per share of ($0.43) for the quarter, down from their prior estimate of $2.27. The consensus estimate for Allstate’s current full-year earnings is $14.99 per share. William Blair also issued estimates for Allstate’s Q3 2024 earnings at $4.04 EPS, Q4 2024 earnings at $5.99 EPS and FY2024 earnings at $14.70 EPS.

Several other research analysts have also commented on the company. Piper Sandler boosted their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Evercore ISI raised their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price target on Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Roth Mkm upped their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.88.

Allstate Price Performance

Allstate stock opened at $162.41 on Monday. The business has a 50-day simple moving average of $166.46 and a 200 day simple moving average of $159.70. Allstate has a 52 week low of $100.57 and a 52 week high of $177.37. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 1.55 and a beta of 0.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter in the prior year, the firm posted ($1.30) earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.27%. Allstate’s dividend payout ratio is presently 81.24%.

Institutional Trading of Allstate

Large investors have recently added to or reduced their stakes in the stock. Confluence Wealth Services Inc. boosted its stake in shares of Allstate by 0.9% during the 1st quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock valued at $1,306,000 after purchasing an additional 65 shares in the last quarter. Gradient Investments LLC raised its position in shares of Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after acquiring an additional 66 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Allstate by 1.9% during the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 71 shares in the last quarter. SVB Wealth LLC grew its stake in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after purchasing an additional 72 shares during the period. Finally, AdvisorNet Financial Inc raised its holdings in Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

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.