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

The Allstate Co. (NYSE:ALL) – Analysts at Roth Capital cut their Q2 2024 EPS estimates for shares of Allstate in a research report issued on Thursday, June 20th. Roth Capital analyst H. Fong now forecasts that the insurance provider will post earnings per share of ($0.64) for the quarter, down from their previous forecast of $1.93. The consensus estimate for Allstate’s current full-year earnings is $13.91 per share. Roth Capital also issued estimates for Allstate’s FY2024 earnings at $12.68 EPS.

ALL has been the topic of several other reports. Roth Mkm increased their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company increased their target price on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. Evercore ISI increased their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group increased their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, Morgan Stanley increased their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.88.

Allstate Trading Down 0.6 %

ALL stock opened at $161.42 on Monday. The company has a market capitalization of $42.60 billion, a PE ratio of 35.63, a P/E/G ratio of 1.65 and a beta of 0.50. Allstate has a 12 month low of $100.57 and a 12 month high of $177.37. The firm’s 50-day moving average is $166.41 and its 200 day moving average is $159.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, topping the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.30) EPS.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, May 31st. Allstate’s payout ratio is currently 81.24%.

Hedge Funds Weigh In On Allstate

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

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.