Research Analysts Offer Predictions for Allstate Q3 Earnings

The Allstate Co. (NYSE:ALL) – Equities researchers at William Blair decreased their Q3 2024 earnings per share (EPS) estimates for Allstate in a research note issued to investors on Thursday, October 17th. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings of $2.70 per share for the quarter, down from their previous forecast of $4.29. The consensus estimate for Allstate’s current full-year earnings is $15.19 per share. William Blair also issued estimates for Allstate’s FY2024 earnings at $15.80 EPS, Q1 2025 earnings at $5.52 EPS, Q2 2025 earnings at $3.71 EPS, Q3 2025 earnings at $5.20 EPS and Q4 2025 earnings at $6.78 EPS.

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

A number of other equities analysts have also recently commented on the stock. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler boosted their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Evercore ISI increased their price target on Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on Allstate from $217.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Raymond James increased their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $206.44.

Allstate Stock Up 0.1 %

NYSE ALL opened at $192.78 on Monday. Allstate has a 52 week low of $121.70 and a 52 week high of $198.79. The firm has a market capitalization of $50.88 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 1.74 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $187.50 and a two-hundred day moving average of $174.10.

Insider Transactions at Allstate

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at $877,968.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,530 shares of company stock valued at $34,967,665. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Axecap Investments LLC purchased a new stake in Allstate in the third quarter valued at about $3,389,000. Lake Street Private Wealth LLC increased its holdings in shares of Allstate by 1.9% during the third quarter. Lake Street Private Wealth LLC now owns 23,410 shares of the insurance provider’s stock valued at $4,440,000 after acquiring an additional 426 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Allstate in the 3rd quarter valued at approximately $285,000. Liberty Capital Management Inc. acquired a new stake in Allstate in the 3rd quarter worth approximately $211,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in Allstate during the 3rd quarter worth approximately $94,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.