Core Viewpoint - Allstate is expected to report significant earnings growth and revenue increase in its upcoming financial results, indicating strong business performance and investor confidence [1][2]. Financial Performance - Allstate's stock closed at $191.01, reflecting a +0.39% change from the previous trading day, outperforming the S&P 500's loss of 0.29% [1]. - The stock has risen by 5.46% over the past month, compared to the Finance sector's gain of 2.97% and the S&P 500's gain of 1.57% [1]. - The forecasted EPS for Allstate is $3.23, representing a 298.77% increase from the same quarter last year, with expected revenue of $16.24 billion, up 11.35% year-over-year [1]. - Full-year estimates predict earnings of $15.16 per share and revenue of $63.73 billion, indicating year-over-year changes of +1495.79% and +11.03%, respectively [1]. Analyst Estimates and Rankings - Recent revisions to analyst estimates for Allstate reflect positive sentiment regarding the company's business performance [2]. - The Zacks Rank for Allstate is currently 3 (Hold), with a 0.14% increase in the consensus EPS estimate over the last 30 days [2]. Valuation Metrics - Allstate's Forward P/E ratio is 12.55, which is lower than the industry's average Forward P/E of 13.64, indicating a valuation discount [3]. - The current PEG ratio for Allstate is 1.79, compared to the industry average of 1.66, suggesting a reasonable growth expectation relative to its earnings [3]. - The Insurance - Property and Casualty industry, which includes Allstate, holds a Zacks Industry Rank of 20, placing it in the top 8% of over 250 industries [3].

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 ...

Core Viewpoint - The Allstate Corporation is experiencing a turnaround with significant improvements in revenue and earnings, despite previous losses, indicating potential investment opportunities [4][6][8]. Financial Performance - In Q2 2024, Allstate reported consolidated revenues of $15,714 million, a 12.4% increase from $13,979 million in Q2 2023 [7]. - The net income for Q2 2024 was $301 million, a substantial recovery from a loss of $1,389 million in the same quarter of the previous year [7]. - Adjusted net income per diluted share was $1.61, compared to a loss of $4.42 per share in Q2 2023 [7][10]. Underwriting Results - Underwriting produced a loss of $145 million in Q2 2024, although this is an improvement from a loss of $2,094 million in Q2 2023 [9][10]. - Premiums earned increased to $13,339 million, up 11.9% from $11,921 million in Q2 2023 [9]. Investment Income - Net investment income for Q2 2024 was $712 million, up from $610 million in Q2 2023, with market-based income contributing significantly [11][12]. - The rise in interest rates has positively impacted investment income, with expectations for continued growth until at least mid-2025 [12]. Valuation Metrics - The price-to-earnings (P/E) ratio is currently at 12, while the price-to-sales ratio indicates that the stock is not overly expensive [8][14]. - The price-to-tangible book value ratio is notably high at 3.623, suggesting potential risks of mean reversion if market conditions change [14][16]. Outlook - The company is expected to maintain strong cash flow after dividends, with dividends constituting about 25% of expected earnings [16]. - There is caution regarding potential profit contraction if investment income declines and combined ratios worsen due to consumer pushback against rising insurance premiums [12][16].

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 ...