FY2022 EPS Estimates for The Allstate Co. Cut by William Blair (NYSE:ALL)

The Allstate Co. (NYSE:ALL – Get Rating) – Research analysts at William Blair cut their FY2022 earnings per share estimates for Allstate in a research report issued to clients and investors on Thursday, January 19th. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings per share of ($0.95) for the year, down from their previous forecast of $2.50. The consensus estimate for Allstate’s current full-year earnings is ($0.22) per share. William Blair also issued estimates for Allstate’s Q4 2022 earnings at ($1.32) EPS and Q4 2023 earnings at $4.42 EPS.

Allstate (NYSE:ALL – Get Rating) last released its earnings results on Wednesday, November 2nd. The insurance provider reported ($1.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.57) by $0.01. Allstate had a positive return on equity of 5.13% and a negative net margin of 0.41%. The firm had revenue of $13.38 billion during the quarter, compared to analysts’ expectations of $13.30 billion. During the same quarter last year, the business posted $0.73 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis.

Several other analysts have also recently issued reports on ALL. Citigroup cut their target price on Allstate from $160.00 to $150.00 in a research report on Thursday, January 19th. Wells Fargo & Company cut their price target on Allstate from $107.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, January 19th. The Goldman Sachs Group raised their price target on Allstate from $146.00 to $166.00 and gave the company a “buy” rating in a report on Monday, January 9th. Keefe, Bruyette & Woods upgraded Allstate from a “market perform” rating to an “outperform” rating and raised their price target for the company from $136.00 to $158.00 in a report on Tuesday, October 11th. Finally, BMO Capital Markets began coverage on Allstate in a report on Thursday, January 19th. They set a “market perform” rating and a $130.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $147.85.

Allstate Stock Performance

NYSE:ALL opened at $127.26 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. Allstate has a 12-month low of $111.85 and a 12-month high of $144.46. The stock has a 50-day moving average price of $133.66 and a 200 day moving average price of $128.36. The stock has a market capitalization of $33.75 billion, a P/E ratio of -89.62, a P/E/G ratio of 2.45 and a beta of 0.61.

Institutional Investors Weigh In On Allstate

Institutional investors and hedge funds have recently bought and sold shares of the company. Accurate Wealth Management LLC bought a new stake in Allstate during the 4th quarter valued at $27,000. Field & Main Bank bought a new stake in Allstate during the 2nd quarter valued at $25,000. Curi Wealth Management LLC raised its position in Allstate by 7,266.7% during the 2nd quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 218 shares in the last quarter. Heritage Wealth Management LLC bought a new stake in Allstate during the 2nd quarter valued at $30,000. Finally, Hexagon Capital Partners LLC raised its position in Allstate by 302.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 278 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 209 shares in the last quarter. 77.48% of the stock is owned by institutional investors.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Wednesday, November 30th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Tuesday, November 29th. Allstate’s dividend payout ratio (DPR) is presently -239.44%.

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; 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.