The Allstate Co. Expected to Post Q2 2024 Earnings of ($0.64) Per Share (NYSE:ALL) (2024)

Posted by Defense World Staff on Jun 24th, 2024

The Allstate Co. (NYSE:ALL – Free Report) – Equities researchers at Roth Capital dropped their Q2 2024 EPS estimates for Allstate in a note issued to investors on Thursday, June 20th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of ($0.64) per share for the quarter, down from their prior forecast 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 – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The business had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.30) EPS.

A number of other analysts have also issued reports on ALL. JPMorgan Chase & Co. increased their price target on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group increased their price target on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Wells Fargo & Company increased their price target on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. Morgan Stanley increased their price target on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Roth Mkm increased their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.88.

View Our Latest Stock Analysis on Allstate

Allstate Stock Performance

NYSE:ALL opened at $160.51 on Monday. Allstate has a twelve month low of $100.57 and a twelve month high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $166.53 and a 200-day moving average of $159.54. The firm has a market cap of $42.36 billion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.29%. Allstate’s payout ratio is 81.24%.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Trading of Allstate

A number of hedge funds and other institutional investors have recently made changes to their positions in ALL. E Fund Management Hong Kong Co. Ltd. purchased a new position in Allstate during the first quarter worth about $25,000. Private Wealth Management Group LLC purchased a new stake in Allstate in the 4th quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Allstate in the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the 1st quarter valued at approximately $26,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Allstate in the 4th quarter valued at approximately $36,000. 76.47% of the stock is currently owned by institutional investors.

About Allstate

(Get Free Report)

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.

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