A month has gone by since the last earnings report for Allstate (ALL) . Shares have added about 6.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Allstate due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Allstate Q2 Earnings Beat on Property-Liability Rate HikesAl ...

The Allstate Corporation (ALL) is well-poised to grow on the back of rising premiums thanks to rate increases in auto and home insurance businesses. The company keeps expanding its Protection Services business with strategic acquisitions, which positions it for long-term growth.Allstate — with a market cap of $49.4 billion — is a major property and casualty insurance provider with operations in the United States and Canada. Courtesy of solid prospects, this presently Zacks Rank #3 (Hold) stock is worth reta ...

Brett_Hondow In our last coverage of The Allstate Corporation (NYSE:ALL), we were unfazed by the losses the company was generating. We suggested that a more nuanced look at the valuation metrics put the stock in the attractive zone. Everyone saw the losses in Q2-2022 to Q4-2022, and yet, there was a miracle expected with over $9.00 in earnings per share. Wall Street always goes down the slope of hope and it takes time to price things out. That said, we think we can make a case here. That case is that AL ...

The Allstate Corporation (ALL) recently announced that the initial loss estimate from Hurricane Beryl was at $226 million. It was expected to witness a significant impact when the hurricane made landfall in Texas (Jul 8, 2024), where the company has major homeowners and automobile insurance operations.According to Verisk’s Extreme Event Solutions group estimates, U.S. onshore wind property losses from Beryl were within the $2-$3 billion range. Allstate also reported estimated catastrophe losses of $587 mill ...

Investors and analysts alike cheered a sizable asset sale announced by the company.Veteran insurance company Allstate (ALL 5.23%) hit a major stock-market milestone on Wednesday. The company shares surged by 5% to close at the highest level in their history. The soaring company also benefited from several positive analyst moves. Allstate's rise trounced that of the S&P 500 index, which rose by slightly under 0.4% on the day. A large asset saleInvestors were particularly excited by a major divestment announc ...

Key TakeawaysAllstate sold its Employer Voluntary Benefits business to StanCorp Financial Group for $2 billion.The insurance company said the decision was part of its effort to sell its three Allstate Health & Benefits units.The news sent Allstate shares up by 4% to an all-time high Wednesday, putting the company among the top four performers in the S&P 500 index. Allstate (ALL) shares reached an all-time high Wednesday after the insurance provider announced it sold its Employer Voluntary Benefits business ...

U.S. stock markets suffered a bloody blow in the first week of August after 19 months of an impressive bull run. Wall Street’s turmoil was triggered by weak labor market data, which heightened concerns of a near-term recession. The massive unwinding of Yen-carry trade due to an unexpected rate hike by the Bank of Japan aggravated the situation. However, U.S. stock markets recovered their lost ground to a great extent within the next 3-4 trading sessions as more released data showed the fundamentals of the U ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Allstate (ALL) .Allstate currently has an average brokerage recom ...

The Allstate Corporation (ALL) reported strong second-quarter results, which benefited on the back of prudent rate increases, rise in Market-based investment income and insurance premiums. Also, improved Property-Liability underwriting results, thanks to its profit improvement plan, lower catastrophe losses and total expenses, aided the bottom line.The second-quarter 2024 adjusted net income of $1.61 per share surpassed the Zacks Consensus Estimate of 33 cents. The company reported a loss of $4.42 per share ...

Allstate (ALL) reported $15.82 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 11.9%. EPS of $1.61 for the same period compares to -$4.42 a year ago.The reported revenue represents a surprise of +1.69% over the Zacks Consensus Estimate of $15.55 billion. With the consensus EPS estimate being $0.33, the EPS surprise was +387.88%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...