William Blair Has Pessimistic View of Allstate Q3 Earnings

The Allstate Co. (NYSE:ALL - Free Report) - Equities research analysts at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for Allstate in a research note issued to investors on Thursday, October 17th. William Blair analyst A. Klauber now expects that the insurance provider will post earnings of $2.70 per share for the quarter, down from their previous forecast of $4.29. The consensus estimate for Allstate's current full-year earnings is $15.19 per share. William Blair also issued estimates for Allstate's FY2024 earnings at $15.80 EPS, Q1 2025 earnings at $5.52 EPS, Q2 2025 earnings at $3.71 EPS, Q3 2025 earnings at $5.20 EPS and Q4 2025 earnings at $6.78 EPS.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $14.04 billion. During the same period in the prior year, the firm earned ($4.42) earnings per share. The company's revenue was up 12.4% compared to the same quarter last year.

A number of other research analysts have also weighed in on the company. UBS Group lifted their target price on Allstate from $215.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. The Goldman Sachs Group boosted their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. StockNews.com cut shares of Allstate from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 21st. Raymond James boosted their price target on shares of Allstate from $205.00 to $220.00 and gave the company a "strong-buy" rating in a research report on Friday, October 4th. Finally, Barclays started coverage on Allstate in a research note on Wednesday, September 4th. They set an "underweight" rating and a $175.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.44.

Allstate Stock Performance

ALL traded down $2.73 on Monday, hitting $192.64. The company's stock had a trading volume of 1,163,079 shares, compared to its average volume of 1,546,520. The firm has a market cap of $50.84 billion, a P/E ratio of 42.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. Allstate has a 12 month low of $121.70 and a 12 month high of $198.79. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The company's 50 day simple moving average is $187.08 and its 200-day simple moving average is $173.96.

Insider Buying and Selling

In other news, EVP Elizabeth Brady sold 49,481 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares of the company's stock, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John E. Dugenske sold 36,367 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company's stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company's stock, valued at approximately $3,431,901.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,530 shares of company stock worth $34,967,665 in the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALL. Northwest Investment Counselors LLC bought a new position in shares of Allstate during the first quarter valued at approximately $26,000. Versant Capital Management Inc raised its holdings in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider's stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Allstate during the 2nd quarter valued at about $38,000. MCF Advisors LLC boosted its stake in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider's stock valued at $53,000 after purchasing an additional 84 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new position in Allstate in the second quarter worth about $58,000. Institutional investors own 76.47% of the company's stock.

Allstate Company Profile

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.