Roth Capital Brokers Lift Earnings Estimates for The Allstate Co. (NYSE:ALL)

The Allstate Co. (NYSE:ALLFree Report) – Analysts at Roth Capital lifted their Q1 2024 earnings per share estimates for Allstate in a research report issued to clients and investors on Thursday, February 8th. Roth Capital analyst H. Fong now expects that the insurance provider will earn $3.50 per share for the quarter, up from their prior estimate of $3.12. The consensus estimate for Allstate’s current full-year earnings is $12.70 per share.

Allstate (NYSE:ALLGet Free Report) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $180.00 in a research note on Tuesday, January 9th. UBS Group lifted their price target on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Raymond James boosted their price target on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. Citigroup boosted their price target on shares of Allstate from $135.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, BMO Capital Markets boosted their price target on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $157.75.

Read Our Latest Analysis on ALL

Allstate Stock Performance

NYSE ALL opened at $159.32 on Monday. The stock has a 50-day simple moving average of $148.13 and a two-hundred day simple moving average of $128.77. The firm has a market capitalization of $41.69 billion, a P/E ratio of -128.48, a PEG ratio of 0.43 and a beta of 0.52. Allstate has a fifty-two week low of $100.57 and a fifty-two week high of $168.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.35 and a current ratio of 0.38.

Hedge Funds Weigh In On Allstate

Several hedge funds and other institutional investors have recently modified their holdings of ALL. Financial Gravity Asset Management Inc. purchased a new stake in Allstate during the 2nd quarter worth approximately $200,000. Private Wealth Management Group LLC bought a new position in Allstate during the 4th quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Allstate during the 4th quarter worth $36,000. Finally, First Capital Advisors Group LLC. acquired a new position in Allstate during the 2nd quarter worth $29,000. 77.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th were paid a $0.89 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 2.23%. Allstate’s dividend payout ratio is currently -287.10%.

About Allstate

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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.

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Earnings History and Estimates for Allstate (NYSE:ALL)

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