Allstate FY2024 EPS Forecast Increased by Zacks Research

The Allstate Co. (NYSE:ALL) – Investment analysts at Zacks Research lifted their FY2024 earnings per share estimates for Allstate in a research note issued to investors on Wednesday, December 18th. Zacks Research analyst Z. Masood now anticipates that the insurance provider will earn $15.46 per share for the year, up from their previous forecast 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.

A number of other equities research analysts have also weighed in on ALL. Piper Sandler boosted their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley upped their price target on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Stock Performance

NYSE ALL opened at $189.79 on Friday. The company has a 50-day simple moving average of $195.61 and a two-hundred day simple moving average of $182.04. Allstate has a 12-month low of $134.17 and a 12-month high of $209.88. The firm has a market cap of $50.26 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.70 and a beta of 0.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SPC Financial Inc. boosted its position in shares of Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after buying an additional 54 shares during the period. Abacus Planning Group Inc. boosted its holdings in shares of Allstate by 2.4% during the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after buying an additional 56 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Allstate by 1.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. increased its stake in shares of Allstate by 15.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.94%. Allstate’s payout ratio is 23.83%.

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.