The Allstate Co. to Post FY2023 Earnings of ($1.34) Per Share, Zacks Research Forecasts (NYSE:ALL)

The Allstate Co. (NYSE:ALLFree Report) – Equities researchers at Zacks Research issued their FY2023 EPS estimates for shares of Allstate in a research report issued on Monday, January 29th. Zacks Research analyst D. Chatterjee anticipates that the insurance provider will earn ($1.34) per share for the year. The consensus estimate for Allstate’s current full-year earnings is ($0.94) per share. Zacks Research also issued estimates for Allstate’s Q4 2023 earnings at $3.57 EPS, Q1 2024 earnings at $2.64 EPS, Q2 2024 earnings at $1.05 EPS, Q4 2024 earnings at $5.37 EPS, FY2024 earnings at $11.75 EPS and Q2 2025 earnings at $3.14 EPS.

Several other equities research analysts have also commented on ALL. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $180.00 in a research note on Tuesday, January 9th. HSBC started coverage on shares of Allstate in a research note on Thursday, December 28th. They set a “hold” rating and a $145.00 price objective on the stock. UBS Group upped their target price on shares of Allstate from $160.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Raymond James upped their target price on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. Finally, Piper Sandler upped their target price on shares of Allstate from $137.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.94.

View Our Latest Research Report on Allstate

Allstate Price Performance

Shares of NYSE ALL opened at $155.25 on Wednesday. Allstate has a 1 year low of $100.57 and a 1 year high of $159.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.35 and a quick ratio of 0.35. The company’s 50-day moving average is $144.71 and its 200 day moving average is $125.88. The stock has a market capitalization of $40.63 billion, a P/E ratio of -19.58, a P/E/G ratio of 1.79 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.42. The firm had revenue of $14.50 billion for the quarter, compared to analysts’ expectations of $12.78 billion. Allstate had a negative net margin of 3.51% and a negative return on equity of 10.95%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.56) EPS.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Wednesday, November 29th. Allstate’s dividend payout ratio (DPR) is currently -44.89%.

Insider Buying and Selling at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $134.79, for a total value of $539,160.00. Following the completion of the transaction, the chief accounting officer now owns 13,711 shares in the company, valued at $1,848,105.69. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $134.79, for a total value of $539,160.00. Following the transaction, the chief accounting officer now directly owns 13,711 shares of the company’s stock, valued at approximately $1,848,105.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Q. Prindiville sold 10,951 shares of Allstate stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total value of $1,483,093.93. Following the completion of the transaction, the executive vice president now directly owns 18,677 shares in the company, valued at $2,529,426.11. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allstate

A number of institutional investors have recently made changes to their positions in ALL. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Allstate by 8.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,748 shares of the insurance provider’s stock valued at $627,000 after purchasing an additional 460 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Allstate by 36.5% during the second quarter. First Horizon Advisors Inc. now owns 63,018 shares of the insurance provider’s stock valued at $6,872,000 after purchasing an additional 16,851 shares during the last quarter. Arcataur Capital Management LLC bought a new position in shares of Allstate during the second quarter valued at approximately $344,000. Forum Financial Management LP grew its holdings in shares of Allstate by 4.7% during the second quarter. Forum Financial Management LP now owns 9,555 shares of the insurance provider’s stock valued at $1,042,000 after purchasing an additional 427 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Allstate during the second quarter valued at approximately $5,104,000. 77.23% of the stock is owned by institutional investors and hedge funds.

Allstate Company Profile

(Get Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

Further Reading

Earnings History and Estimates for Allstate (NYSE:ALL)

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