Allstate FY2024 EPS Estimate Increased by Zacks Research

The Allstate Co. (NYSE:ALL) – Equities researchers at Zacks Research raised their FY2024 EPS estimates for shares of Allstate in a research report issued to clients and investors on Wednesday, December 18th. Zacks Research analyst Z. Masood now anticipates that the insurance provider will post earnings of $15.46 per share for the year, up from their previous estimate of $15.42. The consensus estimate for Allstate’s current full-year earnings is $16.26 per share. Zacks Research also issued estimates for Allstate’s Q4 2024 earnings at $4.81 EPS, Q1 2025 earnings at $5.12 EPS, Q2 2025 earnings at $2.95 EPS, Q3 2025 earnings at $3.93 EPS, Q4 2025 earnings at $4.70 EPS, FY2025 earnings at $16.70 EPS, Q1 2026 earnings at $5.20 EPS, Q3 2026 earnings at $4.70 EPS and FY2026 earnings at $18.33 EPS.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. Allstate’s revenue was up 14.7% on a year-over-year basis.

Several other research firms have also commented on ALL. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group raised their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group upped their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley raised their price objective on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Trading Up 2.0 %

Shares of NYSE ALL opened at $193.56 on Friday. The business has a fifty day moving average price of $195.72 and a 200 day moving average price of $182.38. Allstate has a 1-year low of $134.17 and a 1-year high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $51.26 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.90%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Institutional Trading of Allstate

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after purchasing an additional 126,922 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after buying an additional 74,537 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after buying an additional 145,986 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.