Q2 2022 EPS Estimates for The Allstate Co. Lowered by Jefferies Financial Group (NYSE:ALL)

The Allstate Co. (NYSE:ALL – Get Rating) – Research analysts at Jefferies Financial Group lowered their Q2 2022 earnings estimates for shares of Allstate in a report released on Tuesday, May 10th. Jefferies Financial Group analyst Y. Kinar now forecasts that the insurance provider will post earnings per share of $0.68 for the quarter, down from their prior estimate of $0.90. Jefferies Financial Group also issued estimates for Allstate’s Q3 2022 earnings at $2.51 EPS, Q4 2022 earnings at $3.54 EPS and FY2022 earnings at $9.30 EPS.

Allstate (NYSE:ALL – Get Rating) last posted its earnings results on Wednesday, May 4th. The insurance provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.21). The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $11.14 billion. Allstate had a net margin of 7.20% and a return on equity of 12.50%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.11 EPS.

Other equities analysts have also issued research reports about the stock. Credit Suisse Group assumed coverage on shares of Allstate in a report on Thursday, April 28th. They set an “outperform” rating and a $188.00 target price on the stock. StockNews.com assumed coverage on shares of Allstate in a report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James upgraded shares of Allstate from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $145.00 to $165.00 in a report on Friday, March 18th. Piper Sandler reduced their target price on shares of Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Finally, Morgan Stanley boosted their price objective on shares of Allstate from $140.00 to $152.00 and gave the stock an “equal weight” rating in a report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.31.

NYSE:ALL opened at $128.19 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $35.25 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 2.55 and a beta of 0.82. The firm’s fifty day simple moving average is $134.03 and its 200 day simple moving average is $124.03. Allstate has a twelve month low of $106.11 and a twelve month high of $144.46.

The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Monday, February 28th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.65%. This is an increase from Allstate’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Friday, February 25th. Allstate’s dividend payout ratio (DPR) is 28.48%.

In related news, CAO John C. Pintozzi sold 3,000 shares of Allstate stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $123.87, for a total value of $371,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.77% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of ALL. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Allstate in the fourth quarter valued at approximately $560,036,000. Norges Bank acquired a new position in Allstate in the fourth quarter valued at approximately $290,333,000. Cowa LLC acquired a new position in Allstate in the first quarter valued at approximately $30,000. Lord Abbett & CO. LLC acquired a new position in Allstate in the first quarter valued at approximately $284,759,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Allstate in the fourth quarter valued at approximately $184,428,000. Institutional investors own 75.84% of the company’s stock.

About Allstate (Get Rating)

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; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

Featured Stories