DOWLING & PARTN Weighs in on Allstate FY2028 Earnings

The Allstate Corporation (NYSE:ALL) – DOWLING & PARTN issued their FY2028 earnings estimates for shares of Allstate in a research report issued to clients and investors on Friday, August 7th. DOWLING & PARTN analyst D. Lukpanov expects that the insurance provider will earn $25.50 per share for the year. The consensus estimate for Allstate’s current full-year earnings is $31.40 per share.

Several other research analysts have also commented on the company. Evercore set a $240.00 target price on Allstate in a research report on Friday, July 10th. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. UBS Group boosted their price objective on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler lifted their target price on Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Mizuho upped their price target on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Hold” and an average price target of $262.16.

Allstate Stock Performance

Shares of ALL stock opened at $269.25 on Tuesday. The stock has a market capitalization of $69.31 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 0.45 and a beta of 0.16. Allstate has a one year low of $188.08 and a one year high of $277.22. The company’s 50-day simple moving average is $242.76 and its 200-day simple moving average is $221.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The company had revenue of $15.43 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.94 EPS.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is 8.63%.

Insider Transactions at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by insiders.

Institutional Trading of Allstate

Several large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock valued at $112,533,000 after acquiring an additional 26,586 shares in the last quarter. Strategic Global Advisors LLC raised its stake in shares of Allstate by 19.2% in the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock valued at $10,175,000 after purchasing an additional 7,870 shares during the period. Elevation Point Wealth Partners LLC raised its stake in shares of Allstate by 130.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock valued at $4,016,000 after purchasing an additional 10,936 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Allstate in the fourth quarter valued at about $161,000. Finally, CIBC Asset Management Inc boosted its position in shares of Allstate by 69.2% during the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock worth $13,116,000 after buying an additional 25,764 shares during the period. 76.47% of the stock is owned by institutional investors.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.