The Allstate Co. to Post Q2 2024 Earnings of ($0.64) Per Share, Roth Capital Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for shares of Allstate in a research note issued on Thursday, June 20th. Roth Capital analyst H. Fong now anticipates that the insurance provider will post earnings of ($0.64) per share for the quarter, down from their previous estimate of $1.93. The consensus estimate for Allstate’s current full-year earnings is $14.99 per share. Roth Capital also issued estimates for Allstate’s FY2024 earnings at $12.68 EPS.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating 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 business had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the prior year, the business posted ($1.30) earnings per share. Allstate’s revenue was up 10.7% compared to the same quarter last year.

A number of other analysts also recently weighed in on ALL. JPMorgan Chase & Co. increased their price target on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. The Goldman Sachs Group boosted their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $194.00 price target on shares of Allstate in a report on Friday. Finally, Evercore ISI boosted 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. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.88.

Allstate Stock Performance

ALL stock opened at $162.41 on Monday. 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 has a twelve month low of $100.57 and a twelve month high of $177.37. The business’s fifty day moving average is $166.46 and its 200-day moving average is $159.70. The company has a market cap of $42.86 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50.

Institutional Trading of Allstate

A number of large investors have recently added to or reduced their stakes in ALL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Allstate in the 1st quarter valued at about $25,000. Private Wealth Management Group LLC bought a new stake in Allstate in the 4th quarter valued at $25,000. Rise Advisors LLC acquired a new stake in Allstate during the 1st quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the first quarter worth $26,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Allstate in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Dividend Announcement

The company 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 yield of 2.27%. Allstate’s payout ratio is 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.