Q3 2024 EPS Estimates for The Allstate Co. Increased by William Blair (NYSE:ALL)

The Allstate Co. (NYSE:ALL) – Analysts at William Blair upped their Q3 2024 earnings per share estimates for Allstate in a report released on Thursday, September 5th. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings of $4.29 per share for the quarter, up from their prior estimate of $4.26. The consensus estimate for Allstate’s current full-year earnings is $15.16 per share. William Blair also issued estimates for Allstate’s Q4 2024 earnings at $6.36 EPS and FY2024 earnings at $17.40 EPS.

A number of other research firms have also recently weighed in on ALL. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley dropped their price objective on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Allstate Price Performance

ALL stock opened at $184.85 on Monday. Allstate has a 52-week low of $106.74 and a 52-week high of $191.33. The business has a fifty day moving average of $174.80 and a two-hundred day moving average of $168.62. The stock has a market cap of $48.81 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 1.75 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.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) 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 business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same quarter last year, the firm earned ($4.42) EPS. The business’s revenue was up 12.4% compared to the same quarter last year.

Institutional Trading of Allstate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Allstate in the fourth quarter valued at approximately $212,771,000. Palestra Capital Management LLC acquired a new stake in shares of Allstate during the fourth quarter worth $83,561,000. Balyasny Asset Management L.P. acquired a new stake in shares of Allstate during the fourth quarter worth $81,571,000. Artemis Investment Management LLP purchased a new stake in shares of Allstate in the first quarter valued at $95,764,000. Finally, AQR Capital Management LLC increased its stake in Allstate by 181.6% in the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after purchasing an additional 464,337 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,938 shares of company stock worth $36,122,740. 1.80% of the stock is owned by corporate insiders.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.99%. 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.