Allstate에 대한 매도 수량은 투자자에게 Allstate의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

Allstate (NYSE:ALL) 주식, 공매도 수량 보고

Allstate

Allstate is one of the largest us property-casualty insurers in the us. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 6,000 exclusive agents.

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허리케인 헬렌(Helene)이 상륙한 후 3개 주에서 최소 28명이 사망한 것으로 알려졌다. 무슨 일이 (What Happened): 허리케인 헬렌은 목요일 밤 플로리다에 상륙했을 때 카테고리 4 태풍으로 분류되었다. 이는 시속 100마일 이상의 강풍과 폭우를 동반했다.

허리케인 헬렌 업데이트: 28명 사망, 전력 공급 중단, 보험 손해 및 그 외

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Allstate Corporation (The) Depositary Shares each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series J

At least 28 people are reportedly dead in three states after <a href="https://www.benzinga.com/news/24/09/41028566/tropical-storm-helene-set-to-become-hurricane-generac-duke-energy-stocks-react-as-florida-braces">Hurricane Helene made landfall</a>.
What Happened: Hurricane Helene was classified as <a href="https://www.benzinga.com/topic/hurricane">a Category 4 storm</a> when it made landfall Thursday night in Florida. It brought heavy rain and winds of over 100 miles per hour.
By Friday, the storm was downgraded to a tropical storm. It continued to make its path north to Georgia and South Carolina, as <a href="https://apnews.com/live/hurricane-helene-tracker-maps-updates">reported </a>by the Associated Press.
At last check, the casualties from Hurricane Helene, according to the <a href="https://www.independent.co.uk/news/world/americas/hurricane-helene-landfall-florida-tracker-death-toll-b2619842.html">Independent</a>, total 28. 
Among the hardest hit areas of Hurricane Helene was the Big Bend region of Florida. This is the third hurricane in more than a year to hit the area. 
Hurricane Helene is also expected to cause more damage than the combined damage from Hurricane Idalia (August 2023) and Hurricane Debby (August 2024).
"To have something that was even bigger than those two storms causing a lot of damage, I think it's a sense of trauma for the community," Florida Governor Ron DeSantis said Friday.
Storm cleanup and recovery efforts Friday included trying to open airports in Florida that were previously closed to prepare for the storm and to get bridges and roads back open that had been shut down ahead of the storm.
Here's an update on the storm's impact on the power outages, the insurance market, and the stocks investors <a href="https://www.benzinga.com/general/sports/24/09/41053573/hurricane-helene-disrupts-flights-sports-events-disney-operations-affected-regions-stocks-to-watch">are likely watching.</a>
<h2 class="wp-block-heading">Power Outages</h2>
Over four million homes remain without power as of Friday across the areas hit the hardest like Florida, Georgia and South Carolina.
Hundreds of thousands of people in Florida had lost power in the hours before the hurricane made landfall.
Investors will closely be monitoring Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) — one of the largest power companies in Florida.
With the anticipated power outages and storm damages from the storm, investors will be closely watching generator company Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) to see if the company gets a boost in its financials in the current quarter from the storm's impact.
Read Also: <a href="https://www.benzinga.com/news/24/09/41028566/tropical-storm-helene-set-to-become-hurricane-generac-duke-energy-stocks-react-as-florida-braces">Tropical Storm Helene Set To Become Hurricane: Generac, Duke Energy Stocks React As Florida Braces</a>
<h2 class="wp-block-heading">Storm Damage, Insurance Impact</h2>
A <a href="https://www.miamiherald.com/news/politics-government/state-politics/article293117729.html">report </a>from the Miami Herald said the losses from the storm could be modest for Florida's insurance market and smaller than Hurricane Ian (2022) and Hurricane Michael (2018).
"This looks like it will not be a large loss event for Florida insurers," Insurance Information Institute spokesperson Mark Friedlander said.
Friedlander said it could be "a manageable event," which could be due to the hurricane hitting an area of Florida that is not as populated as other parts of the state.
A report from reinsurance company Gallagher Re, which is a unit of Arthur J. Gallagher &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>), said Wednesday that private insurers' losses could come in a range of $3 billion to $6 billion across the multiple states impacted.
For comparison, Hurricane Michael, which was a Category 5 storm that hit Florida, caused $9 billion in losses. Hurricane Irma represented around one million claims and $20 billion in losses.
Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are among the publicly traded companies that could be impacted by the insurance claims from the hurricane.
The Aftermath: The death toll from Hurricane Helene is likely to rise as search and rescue missions are underway across several states. Power outages could persist for days and the damage done from the storm will take months to years to recover from for businesses and residents.
Home improvement retailers Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) are other stocks often linked to hurricanes due to the damage done to homes and repair efforts that are needed.
With hurricane season still active until late November, the areas impacted by Hurricane Helene will be hoping that more large storms don't make landfall in the coming months.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41028495/will-hurricane-helene-disrupt-floridas-cannabis-industry-trulieve-ceo-says-co-is-locked-and-load">Will Hurricane Helene Disrupt Florida&#8217;s Cannabis Industry? Trulieve CEO Says Co. Is &#8216;Locked And Loaded, Not Our First Storm Rodeo&#8217;</a></li>
</ul>
Image: Shutterstock

Hurricane Helene Update: 28 Dead, Power Outages, Insurance Damages And More

Hurricane Helene is on track to hit Florida and the Gulf Coast region Thursday night in what could be one of the most powerful storms to strike the <a href="https://www.benzinga.com/topic/hurricane">regions in decades.</a>
Here's a look at the regions most affected, and how the hurricane is impacting travel, sports, and key stocks to watch.
Hurricane Path: Hurricane Helene <a href="https://www.benzinga.com/news/24/09/41028566/tropical-storm-helene-set-to-become-hurricane-generac-duke-energy-stocks-react-as-florida-braces">could hit and impact</a> several major cities in Florida and the nearby states, including Tampa, Tallahassee and Atlanta.
Currently a Category 2 hurricane, the storm could be elevated to a Category 3 or Category 4 storm in the coming hours and days. The hurricane is expected to be one of the largest storms in the region over the last century, as <a href="https://www.cnn.com/weather/live-news/hurricane-helene-florida-09-26-24/index.html">reported </a>by CNN.
Over three million people in Florida and Georgia are currently under a Tornado Watch until 10 p.m. ET Thursday night.
A CNN meteorologist predicts that peak wind could reach over 100 mph in some regions Thursday and Friday, with rainfall of up to 12 inches in certain areas.
Florida Governor Ron DeSantis warned of the potential that Hurricane Helene could shift its path and could hit Tallahassee, the state's capital. Tallahassee has never been directly hit by a Category 3 hurricane.
"This area has not had a major hurricane hit in quite some time, and certainly nobody in recent memory has seen a storm of this magnitude that has hit," DeSantis said, as reported by CNN.
While the worst of the storm will likely be felt in Florida and Georgia, the storm's path, which could increase in size, is expected to travel through portions of Alabama, Tennessee, Kentucky, Missouri, and Illinois, with the non-Florida states getting hit on Friday and Saturday.
Read Also: <a href="https://www.benzinga.com/markets/esg/24/05/39012013/noaa-meteorologists-predict-aggressive-hurricane-season-what-it-means-for-home-depot-generac-other-s">NOAA Meteorologists Predict Aggressive Hurricane Season: What It Means For Home Depot, Generac, Other Storm-Related Stocks</a>
Stocks to Watch: Among the sectors that could be hit by the hurricane is the airline industry, with over 1,000 flights canceled Thursday at several Florida airports.
Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) was listed as the airline with the most impact on the region by CNN, with the potential for its flights to resume Friday morning. The company has waived change fees for flights to other regions and airports to help travelers.
Florida is a key region for many theme parks, including Disney World, the popular theme park from The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>). Disney World has announced some park experiences have been closed due to the hurricane, but the theme park remains open. Disney World has closed for several hurricanes over the years, as <a href="https://www.tallahassee.com/story/news/2024/09/26/hurricane-helene-florida-theme-parks-closed-open-disney-universal-orlando/75389447007/">reported </a>by Tallahassee Democrat. Hurricane Ian in September 2022 was the last time Disney World fully closed.
United Parks &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRKS#NYSE">PRKS</a>) closed Busch Gardens Tampa Bay and several water parks it owns in the region, while SeaWorld Orlando remains open Thursday.
Insurance stocks will likely be on watch, with the damage from the storm causing potential billions of dollars in damage. Stocks like Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) could see heavy claims from customers after the storm.
Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) is a larger operator in Florida and could see interest from investors as the storm damage and power outages are assessed.
While the stocks above could be negatively affected by the hurricane, several stocks could be viewed as winners from storm damage and prolonged power outages.
Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) is often viewed as a hurricane stock thanks to its sale of generators and power equipment. Generac shares are up 7% in the last five days, in possible anticipation of the impact of Hurricane Helene.
Home improvement retailers Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) could see a positive impact from repairs needed to homes in the region and see their quarterly results reflect the increased sales, depending on the storm&#8217;s size.
Sports Impact: The early impact of the storm was witnessed in the sports world Wednesday, with Major League Baseball cancelling the Atlanta Braves (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>) and New York Mets contests set for Wednesday and Thursday. The games will now be played in a doubleheader Monday, <a href="https://www.espn.com/mlb/story/_/id/41442218/mets-braves-games-wednesday-thursday-postponed-monday-doubleheader">extending </a>the MLB regular season.
The games are pivotal in the current fight for the National League Wild Card race to secure a postseason berth. The Mets (87-70) currently lead the Braves (86-71) in the Wild Card race. It's possible that Monday's games could decide which team makes it into the MLB Playoffs. For the Mets, the team could see a tough travel schedule if they do make the playoffs, flying into Atlanta on Monday and then flying to Milwaukee or the West Coast for a first-round matchup that would start on Tuesday.
Several NCAA Football games could be <a href="https://www.usatoday.com/story/sports/ncaaf/2024/09/24/hurricane-helene-college-football-schedule-impact/75369720007/">impacted </a>by the hurricane over the weekend. The Miami Hurricanes&#8217; home game on Friday could be postponed. UCF&#8217;s home game on Saturday will also be monitored. The highly anticipated Alabama and Georgia game set to play in Tuscaloosa, Alabama, on Saturday could also be impacted by heavy rain and winds.
The National Football League is also monitoring the storm and its impact on games scheduled for Sunday and Monday. The Tampa Bay Buccaneers, Atlanta Falcons, and Carolina Panthers are currently set to host home games at 1 p.m. ET Sunday. The Miami Dolphins host a Monday Night Football game that is also being monitored.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41028495/will-hurricane-helene-disrupt-floridas-cannabis-industry-trulieve-ceo-says-co-is-locked-and-load">Will Hurricane Helene Disrupt Florida&#8217;s Cannabis Industry? Trulieve CEO Says Co. Is &#8216;Locked And Loaded, Not Our First Storm Rodeo&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Sports

BATRA

PRKS

Hurricane Helene Disrupts Flights, Sports Events, Disney Operations: Affected Regions, Stocks To Watch

In the latest trading session, Allstate (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>) closed at $191.82, marking a -0.55% move from the previous day. This move lagged the S&amp;P 500&#39;s daily gain of 0.25%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.56%.
The insurer&#39;s stock has climbed by 5.35% in the past month, exceeding the Finance sector&#39;s gain of 1.86% and the S&amp;P 500&#39;s gain of 1.65%.
The investment community will be closely monitoring the performance of Allstate in its forthcoming earnings report. The company is expected to report EPS of $3.27, up 303.7% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $16.24 billion, indicating a 11.35% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.20 per share and a revenue of $63.73 billion, indicating changes of +1500% and +11.03%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Allstate. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company&#39;s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we&#39;ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% higher. Allstate is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Allstate has a Forward P/E ratio of 12.69 right now. This denotes a discount relative to the industry&#39;s average Forward P/E of 13.83.
Also, we should mention that ALL has a PEG ratio of 1.81. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company&#39;s projected earnings growth. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.51 based on yesterday&#39;s closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 20, positioning it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
<a href="https://www.zacks.com/stock/news/2340862/allstate-all-stock-sinks-as-market-gains-here-s-why?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_6v1-2340862">To read this article on Zacks.com click here.</a>

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Allstate Stock Sinks As Market Gains: Here's Why

<a href="https://x.com/realDonaldTrump/status/1836100511960818044" title="https://x.com/realDonaldTrump/status/1836100511960818044">https://x.com/realDonaldTrump/status/1836100511960818044</a>

Watching Shares Of Auto Insurance Companies; Donald Trump Post On X, "Your Automobile Insurance is up 73% — VOTE FOR TRUMP, I'LL CUT THAT NUMBER IN HALF!"

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 10 years by 1.03% on an annualized basis producing an average annual return of 11.58%. Currently, Allstate has a market capitalization of $49.51 billion. 
Buying $1000 In ALL: If an investor had bought $1000 of ALL stock 10 years ago, it would be worth $2,996.11 today based on a price of $187.50 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725989417_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $3,000 Today

Barclays analyst Alex Scott initiates coverage on Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Underweight rating and announces Price Target of $175.

Price Target

Initiation

Barclays Initiates Coverage On Allstate with Underweight Rating, Announces Price Target of $175

Providing a diverse range of perspectives from bullish to bearish, 16 analysts have published ratings on Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) in the last three months.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $200.06, a high estimate of $226.00, and a low estimate of $175.00. This upward trend is apparent, with the current average reflecting a 2.03% increase from the previous average price target of $196.07.
<img src="https://www.benzinga.com/files/images/story/2024/1725368416_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Allstate among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Kligerman</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$224.00</td>
<td>$193.00</td>
</tr>
<tr>
<td>Paul Newsome</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$196.00</td>
<td>$188.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$208.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$175.00</td>
<td>$177.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$204.00</td>
<td>$199.00</td>
</tr>
<tr>
<td>Harry Fong</td>
<td>Roth MKM</td>
<td>Maintains</td>
<td>Buy</td>
<td>$200.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$199.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$177.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$205.00</td>
<td>$191.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$226.00</td>
<td>$213.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$199.00</td>
<td>$197.00</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$191.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$193.00</td>
</tr>
<tr>
<td>Michael Phillips</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$194.00</td>
<td>$194.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$194.00</td>
<td>$194.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Allstate. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Allstate compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Allstate's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Allstate's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ALL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Allstate analyst ratings.</a>
<h2>Get to Know Allstate Better</h2>
Allstate is one of the largest US property and casualty insurers in the US. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 10,000 company agencies.
<h3>Financial Milestones: Allstate's Journey</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Allstate's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 12.41%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Allstate's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 1.92%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 1.81%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Allstate's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.28%, the company may face hurdles in achieving optimal financial returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.49, caution is advised due to increased financial risk.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Allstate Stock: A Deep Dive Into Analyst Perspectives (16 Ratings)

TD Cowen analyst Andrew Kligerman maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Buy and raises the price target from $193 to $224.

TD Cowen Maintains Buy on Allstate, Raises Price Target to $224

<a href="https://www.sfchronicle.com/california/article/allstate-home-insurance-rate-hike-19728352.php">https://www.sfchronicle.com/california/article/allstate-home-insurance-rate-hike-19728352.php</a>
Allstate has been approved for the largest rate increase in California of any <a href="https://www.sfchronicle.com/home-insurance/">major insurer</a> in the past three years.
This month, the Department of Insurance approved <a href="https://www.sfchronicle.com/california/article/allstate-home-insurance-rate-19482339.php">Allstate's request to hike its home insurance rates</a> by an average of 34.1% for its roughly 350,000 California customers. Within that average, some homeowners could see their rates decrease as much as 57%, while at least one will see rates increase by nearly 650%. Allstate customers will see the increase appear on their bill at their first renewal date following November 7, according to the company's filings with the state.
<ul>
<li>California map: <a href="https://www.sfchronicle.com/projects/2024/ca-statefarm-nonrenewal-map/">ZIP codes State Farm won't renew insurance policies&nbsp;</a></li>
<li>Tool: <a href="https://www.sfchronicle.com/projects/2024/california-home-insurance-costs-map/">Map shows what home insurance costs in every California ZIP code</a></li>
<li>Read also: <a href="https://www.sfchronicle.com/california/article/home-insurance-coverage-tips-18596427.php">Tips for homeowners to navigate California's ‘chaotic' insurance crisis</a></li>
</ul>
It's the largest increase of a top insurer since 2021, when Homesite Insurance Company&nbsp;— a subsidiary of American Family Insurance, the 12th largest insurer in California&nbsp;— was approved to raise homeowner rates by 38.2%. Allstate's increase only applies to homeowners insurance, but the company also has an open request to raise rates for condominium owners by an average of 30%.
In its filing, Allstate said the increase was motivated by an increased number of claims for water and fire damage.
"Our payments to help California residents recover from accidents and disasters have increased significantly in recent years due to higher repair costs, more frequent and severe weather and legal system abuse," an Allstate spokesperson previously told the Chronicle.
Data included in the company's filings show that the greatest increases will happen in Fresno, Madera and Mariposa counties. A lone homeowner in the 95325 ZIP code in Mariposa County will see their rates increase by 385%, while the 95369 ZIP code in Merced County will see rates go up an average of 214%.&nbsp;Homeowners in Sonoma and&nbsp;Napa counties will also see particularly&nbsp;large increases, with rates in&nbsp;the 95442 ZIP code in Sonoma rising an average of&nbsp;164%.
Such rate hikes are a harbinger of what could come in the future, experts say. Over the past few years, California insurers have asserted that the state's Proposition 103 — which requires companies to get prior approval before raising rates and, uniquely among the 50 states, bans the use of forward-looking risk models when pricing wildfire risk — has kept them from accurately pricing the risk they're taking on. In response, many have severely limited the new policies they write. <a href="https://www.sfchronicle.com/california/article/insurance-allstate-fires-18130622.php">Allstate</a> and <a href="https://www.sfchronicle.com/california-wildfires/article/insurance-state-farm-18125433.php">State Farm</a> have even stopped writing new policies altogether.
In April, an Allstate representative promised regulators at a public workshop that it would <a href="https://www.sfchronicle.com/california/article/allstate-home-insurance-19419045.php">start writing homeowners policies for new customers again</a> soon. But first, it would need to be able to "fully reflect the cost of providing protection to customers"&nbsp;— meaning prices would need to go up. Allstate ceased writing new homeowners policies in November 2022.
The company did not immediately clarify whether the new rate increase would cause it to resume writing new policies in California.
Allstate's rate hike is hardly the only major rate hike to be approved in recent years. In March, the Liberty Mutual subsidiary Safeco was <a href="https://www.sfchronicle.com/california/article/safeco-insurance-rates-19457338.php">approved to increase rates an average of 10.5%</a>. That month, State Farm, the state's largest home insurer by far, also <a href="https://www.sfchronicle.com/projects/2024/state-farm-california-rate-increases-map/">increased its average rates by 20%</a>. Since then, State Farm has also <a href="https://www.sfchronicle.com/california/article/state-farm-insurance-rates-19544180.php">requested another 30% rate increase</a> in a <a href="https://www.sfchronicle.com/california/article/insurance-state-farm-finances-19545699.php">sign of financial distress</a>. That request is pending.
Even the FAIR Plan&nbsp;— California's state-created but privately-run "<a href="https://www.sfchronicle.com/california/article/home-insurance-policy-19429777.php">insurer of last resort</a>"&nbsp;— has said <a href="https://www.sfchronicle.com/california/article/home-insurance-fair-plan-rates-19422597.php">it will need a "substantial increase" in prices</a> in the near future.
&nbsp;

'Allstate Approved For 34% Home Insurance Rate Increase In California, Largest For Major Insurer In Three Years' - San Francisco Chronicle

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.22% on an annualized basis producing an average annual return of 13.31%. Currently, Allstate has a market capitalization of $49.18 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $661.76 today based on a price of $186.25 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724862616_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 15 Years Ago Would Be Worth $700 Today

Piper Sandler analyst Paul Newsome maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Overweight and raises the price target from $188 to $196.

Piper Sandler Maintains Overweight on Allstate, Raises Price Target to $196

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Outperform and maintains $208 price target.

Keefe, Bruyette & Woods Maintains Outperform on Allstate, Maintains $208 Price Target

Wells Fargo analyst Elyse Greenspan maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Equal-Weight and lowers the price target from $177 to $175.

Wells Fargo Maintains Equal-Weight on Allstate, Lowers Price Target to $175

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our a<a href="https://www.benzinga.com/analyst-stock-ratings">nalyst ratings page.</a>
<ul>
<li>Rosenblatt raised the price target for Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) from $65 to $69. Rosenblatt analyst Mike Genovese maintained a Buy rating. Lumentum shares fell 1.5% to close at $45.53 on Wednesday. <a href="https://www.benzinga.com/quote/LITE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler increased the price target for The Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) from $250 to $252. Piper Sandler analyst Paul Newsome maintained an Overweight rating. Progressive shares gained 5.4% to close at $234.34 on Wednesday. <a href="https://www.benzinga.com/quote/PGR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. cut Century Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPSC#NASDAQ">IPSC</a>) price target from $11 to $9. HC Wainwright &amp; Co. analyst Mitchell Kapoor maintained a Buy rating. Century Therapeutics shares fell 5.5% to close at $1.56 on Wednesday. <a href="https://www.benzinga.com/quote/IPSC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo cut the price target for Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) from $200 to $130. Wells Fargo analyst Michael Turrin downgraded the stock from Overweight to Equal-Weight. Snowflake shares gained 0.2% to close at $127.30 on Wednesday. <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Rosenblatt boosted Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) price target from $56 to $58. Rosenblatt analyst Mike Genovese maintained a Neutral rating. Cisco shares gained 0.2% to close at $45.44 on Wednesday. <a href="https://www.benzinga.com/quote/CSCO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs increased The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) price target from $199 to $204. Goldman Sachs analyst Alex Scott maintained a Buy rating. Allstate shares gained 5.2% to close at $180.95 on Wednesday. <a href="https://www.benzinga.com/quote/ALL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS increased the price target for Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) from $76 to $90. UBS analyst Danielle Antalffy upgraded the stock from Sell to Neutral. Medtronic shares fell 0.6% to close at $81.74 on Wednesday.<a href="https://www.benzinga.com/quote/MDT/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Citigroup cut Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) price target from $170 to $155. Citigroup analyst Asiya Merchant maintained a Buy rating. Dell shares gained 3% to close at $102.95 on Wednesday. <a href="https://www.benzinga.com/quote/DELL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted Cardinal Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>) price target from $130 to $137. Baird analyst Eric Coldwell maintained an Outperform rating. Cardinal Health shares rose 3.7% to close at $106.36 on Wednesday. <a href="https://www.benzinga.com/quote/CAH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank boosted Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) price target from $21 to $24. Deutsche Bank analyst Brian Bedell upgraded the stock from Hold to Buy. Robinhood shares gained 1.3% to close at $18.65 on Wednesday. S<a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">ee how other analysts view this stock.</a></li>
</ul>
Read Next:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40368892/jim-cramer-avoid-middle-market-plays-like-golub-capital-buy-mueller-industries-it-is-fan"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40368892/jim-cramer-avoid-middle-market-plays-like-golub-capital-buy-mueller-industries-it-is-fan">Jim Cramer: &#8216;Avoid Middle Market Plays&#8217; Like Golub Capital, Buy Mueller Industries — &#8216;It Is Fantastic&#8217;</a></li>
</ul>
Considering buying Robinhood stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="571" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15080944/image-115-1024x571.png" alt="" class="wp-image-496664" style="width:511px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15080944/image-115-1024x571.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15080944/image-115-300x167.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15080944/image-115-768x429.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/15080944/image-115.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Pre-Market Outlook

CSCO

DELL

HOOD

IPSC

LITE

SNOW

Robinhood To Rally Around 29%? Here Are 10 Top Analyst Forecasts For Thursday

Goldman Sachs analyst Alex Scott maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Buy and raises the price target from $199 to $204.

Goldman Sachs Maintains Buy on Allstate, Raises Price Target to $204

The Property and Casualty (P&amp;C) insurance space is set to benefit from better pricing, prudent underwriting, increased exposure, an improving rate environment and a solid capital position. With the ongoing economic expansion, insurers remain well-poised for growth.&nbsp;
The Zacks-defined Property &amp; Casualty Insurance Industry is currently in the top 24% of the Zacks Industry Rank. In the past year, the industry has provided 19.7% returns, while its year-to-date return is 19.5%. Since it is ranked in the top half of the Zacks Ranked Industries, we expect it to outperform the market over the next three to six months.
<h2>Future Catalysts</h2>
Price hikes, operational strength, higher retention, strong renewal and the appointment of retail agents should help write higher premiums. The P&amp;C insurance industry is witnessing increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation that expedite business operations and save costs. Insurers continue to invest heavily in technology to improve basis points, scale and efficiencies.
Meanwhile, consolidation in the property and casualty industry is likely to continue as players look to diversify their operations into new business lines and geographies. Deloitte estimates more mergers and acquisitions in the reinsurance space in 2024.
Finally, a massive rise in the market interest rate will raise the cost of funds, enabling financial companies to widen the spread between longer-term assets, such as loans, with shorter-term liabilities, thus boosting the financial sector&#39;s profit margin.
<h2>Our Top Picks</h2>
We have narrowed our search to five P&amp;C insurers with strong potential for the rest of 2024. These stocks have seen positive earnings estimates in the last 30 days. Each of our picks carries a Zacks Rank #2 (Buy).
The chart below shows the price performance of our five picks in the past three months.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f0/74260.jpg?v=1709561596" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
Arch Capital Group Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acgl#NASDAQ">ACGL</a>) boasts a strong product portfolio and has a solid track record of premium growth. Premiums should benefit from new business opportunities, rate increases, growth in existing accounts and growth in Australian single-premium mortgage insurance.&nbsp;
ACGL has also been diversifying its Mortgage Insurance business via strategic acquisitions that also complement the strength in the specialty insurance and reinsurance businesses. A solid capital position shields ACGL from market volatility. ACGL&#39;s growing Investment portfolio provides meaningful tailwinds to its bottom line. Strategic buyouts strengthen ACGL&#39;s portfolio and offer geographic diversification.&nbsp;
Arch Capital Group has an expected revenue and earnings growth rate of 15.1% and 5.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last seven days.
The Allstate Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>) is witnessing consistent growth in premiums, thanks to strategic acquisitions and expanding ventures. Rate hikes to counter inflationary pressures on loss costs are expected to continue in ALL&#39;s auto insurance business for 2024.&nbsp;
ALL&#39;s focus on optimizing core operations has allowed it to redirect resources toward high-growth areas. The sale of ALL&#39;s Health &amp; Benefits division is expected to free up capital. Cost-saving initiatives are projected to boost profits. ALL&#39;s cash-generating abilities are crucial for returning capital to its shareholders.
The Allstate has an expected revenue and earnings growth rate of 9.6% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.5% in the last seven days.
The Progressive Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>) continues to gain on higher premiums, given its compelling product portfolio, leadership position and strength in both Vehicle and Property businesses. Focus on becoming a one-stop insurance destination, catering to customers opting for a combination of home and auto insurance, augurs well for PGR&#39;s growth.&nbsp;
Policies in force and retention ratio should remain healthy. Competitive pricing to retain current customers and address their needs with new offerings should continue to drive policy life expectancy.
The Progressive has an expected revenue and earnings growth rate of 19.5% and 96.7%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 8.1% in the last 30 days.
RLI Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rli#NYSE">RLI</a>) is one of the industry&#39;s most profitable property and casualty writers with an impressive track record of underwriting profits. A strong local branch office network, a broad range of product offerings, and a focus on specialty insurance lines contribute to RLI&#39;s profits.&nbsp;
RLI&#39;s ability to maintain the combined ratio at favorable levels even in the toughest operating environment reflects superior underwriting discipline. RLI&#39;s decision to drop underperforming products from its property business also bodes well. A strong capital position provides financial flexibility to operating subsidiaries and supports wealth distribution to shareholders.
RLI has an expected revenue and earnings growth rate of 18.1% and 22.5%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.6% over the last 30 days.
Root Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/root#NASDAQ">ROOT</a>) provides insurance products and services in the United States. ROOT offers automobile, homeowners, and renters&#39; insurance products. ROOT operates a direct-to-consumer model, and serves customers primarily through mobile applications, as well as through its website. ROOT&#39;s direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.
Root has an expected revenue and earnings growth rate of more than 100% and 74.3%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 28.5% over the last 30 days.
<a href="https://www.zacks.com/stock/news/2321865/buy-5-property-casualty-insurers-to-enhance-your-portfolio?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2321865">To read this article on Zacks.com click here.</a>

Mid Cap

Small Cap

ACGL

ROOT

Buy 5 Property & Casualty Insurers to Enhance Your Portfolio

The July consumer inflation report released Wednesday confirmed a continued cooling trend in price increases across the economy, with the headline Consumer Price Index (CPI) coming in at 2.9% year-over-year, slightly below both the <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40365730/july-inflation-rate-falls-more-than-expected-supports-hopes-for-large-fed-rate-cu">previous and expected 3%. </a>
Core inflation, which excludes food and energy, also saw a modest decline from 3.3% to 3.2% year-over-year, aligning with economists&#8217; forecasts.
For investors, this signals that the Federal Reserve may have the green light to cut interest rates in September. However, the odds of a 25 basis point hike are slightly higher than those of a 50 basis point cut.
Wall Street had a mixed response to the data. Major indices initially rose around 10 a.m. E.T. before flattening out by midday trading in New York.
Both S&amp;P 500 and Nasdaq 100 are striving to secure their fifth consecutive sessions in the green.
Financial stocks outperformed among the 11 sectors of the S&amp;P 500. The biggest laggards were communication services, weighed down by a decline in Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), and consumer discretionary, dragged by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Starbucks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>).
Long-dated Treasury yields fell by 4 basis points, boosting the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) by 0.6%.
The U.S. dollar index, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), remained steady, while gold eased by 1%.
Oil prices, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), declined by 1.1%, marking the second consecutive session of losses.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped 2.4% to $59,100.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,894.49</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,442.32</td>
<td>0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,967.78</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,081.22</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% higher to $542.64.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.4% to $399.25.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) eased 0.1% to $461.91.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tumbled 0.9% to $206.01.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up by 0.8%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down by 0.8%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) surged 7.7% after the company announced it would be acquired by Mars in an all-cash deal valued at $35.9 billion.</li>
<li>Alphabet Inc. fell nearly 3% after reports that the U.S. Department of Justice may break up Google following a recent ruling that it monopolized the online search market.</li>
<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) jumped over 4% after reporting that total client assets reached $9.572 trillion in July, up 16% year-over-year and 2% from June, with core net new assets surging 112% to $29 billion compared to July 2023.</li>
<li>Other financial stocks marking strong gains on Wednesday included The Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), The Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) up 5%, 4.8% and 3.2%, respectively.</li>
<li>Stocks moving on earnings report were Cardinal Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>), up 4%, Brinker International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAT#NYSE">EAT</a>), down 14% and Performance Food Group Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFGC#NYSE">PFGC</a>) up 8%. </li>
<li>Those reporting after the close include Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>).</li>
</ul>
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This photo was created using artificial intelligence MidJourney.

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Roth MKM analyst Harry Fong reiterates Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Buy and maintains $200 price target.

Reiteration

Roth MKM Reiterates Buy on Allstate, Maintains $200 Price Target

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Allstate shares are trading higher after the company agreed to sell its Employer Voluntary Benefits business to StanCorp Financial Group for $2.0 billion.

The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) shares are trading higher after the company reached a definitive deal to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. for $2.0 billion in cash, subject to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40354903/allstate-to-sell-employer-voluntary-benefits-business-to-the-standard" rel="noreferrer noopener">customary conditions and approvals</a>.
The sale is projected to generate a $600 million gain and<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> increase deployable capital by $1.6 billion.</a>
Allstate expects adjusted net income return on equity to decrease by approximately 100 basis points after the sale. The deal is anticipated to close in the first half of 2025.
The sale marks the initial phase of Allstate&#8217;s strategy to enhance growth by merging its Employer Voluntary Benefits, Individual Health, and Group Health businesses with companies that offer additional capabilities.
Apart from this, the companies will also form a product distribution partnership. Under the cooperation, The Standard will exclusively handle group life, disability, and other benefits sold through Allstate&#8217;s agents, providing a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40354955/the-standard-to-acquire-allstate-employer-voluntary-benefits-business-companies-announce-distribut" rel="noreferrer noopener">trusted group benefits partner</a>.
Tom Wilson, Chair, President and CEO of The Allstate Corporation, said, &#8220;Allstate&#8217;s Employer Voluntary Benefits business provides protection to over 3.5 million customers who will continue to be well served by The Standard. The alignment between Allstate&#8217;s industry-leading product offerings, employer relationships, distribution and talented team and The Standard&#8217;s group benefits business will provide customers with broader protection and higher value.&#8221;
&#8220;Allstate shareholders will also benefit as capital is deployed to increase market share in personal property-liability and expand protection offerings. Discussions on the sale of the Individual and Group Health businesses are continuing and are expected to achieve the same success.&#8221;
Allstate stock gained over&nbsp;60% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco KBW Property &amp; Casualty Insurance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWP#NASDAQ">KBWP</a>) and IShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>).
Price Action: ALL shares are up 1.68% at $174.85 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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Jefferies analyst Yaron Kinar maintained a Buy rating on Allstate (ALL – Research Report) today and set a price target of $217.00. The company's sh...

Jefferies Sticks to Its Buy Rating for Allstate (ALL)

Shares of The Allstate Corp. (ALL) have gained as much as 35% so far this year. Investors who've enjoyed this rally wonder if there is more room for further upside or if the stock peaked. Let's find out… The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>) has been on an impressive run this year, with its stock surging 35% year-to-date. This rise has caught the attention of many investors wondering if there's still room for further gains.
The company's impressive turnaround in the second quarter, transitioning from a net loss to solid profits, was largely driven by higher premiums, stronger underwriting, and fewer catastrophe-related losses. Its consolidated premiums written for the quarter were at $15.43 billion, reflecting a 12.4% increase year-over-year. At the same time, its catastrophe losses dropped to $2.12 billion, down from $2.70 billion.
Insurers often avoid the ups and downs in demand that plague other financial firms, thanks in part to the widespread use of employer-sponsored and government-mandated insurance policies. With the economy showing signs of a soft landing, markets have reached all-time highs in 2024, which is good news for insurers like Allstate as it boosts their investment income.
Tom Wilson, Allstate's CEO, highlighted that these strong results reflect the company's effective strategies, setting them up for continued success. ALL helped nearly 2 million customers in the last quarter by handling claims related to storms, accidents, and device breakages.
Shares of ALL have gained 36.9% over the past nine months and 66.9% over the past year, closing the last trading session at $188.69.
Now, let's look at factors that could influence ALL's performance in the upcoming months:
Solid Financial Performance
For the second quarter that ended on June 30, 2024, ALL reported total revenues of $15.71 billion, up 12.4% year-over-year and slightly above the analyst's estimate of $15.23 billion. Its property and casualty insurance premiums increased by 11.9% year-over-year to $13.95 billion. Net investment income grew 16.7% from the year-ago value to $712 million.
Further, the company's income from operations (before income tax expense) stood at $430 million versus a prior year's loss of $1.75 billion. ALL's non-GAAP net income amounted to $429 million and $1.61 per share, compared to an adjusted net loss of $1.16 billion and $4.42 per share in the same quarter last year. Additionally, its total investments increased to $70.60 billion as of June 30, 2024, compared to $66.68 billion as of December 31, 2023.
Favorable Analyst Estimates
The consensus revenue estimate of $15.67 billion for the fiscal third quarter (ending September 2024) represents an 8.1% increase year-over-year. The consensus <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> estimate of $3.25 for the current quarter indicates a 300.8% improvement year-over-year. The company has an excellent surprise history, surpassing the consensus revenue and EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue is anticipated to grow 10.3% year-over-year to $62.97 billion, while its EPS is expected to increase significantly from the prior year period to $15.14.
In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 8.6% and 19.3% from the same period last year to $68.41 billion and $18.06, respectively.
Discounted Valuation
In terms of forward non-GAAP PEG, ALL is currently trading at 0.07x, 94.3% lower than the industry average of 1.29x. Likewise, its forward EV/Sales multiple of 0.94 is 69.8% lower than the industry average of 3.12x. In addition, the stock's 10.74x forward EV/EBIT ratio is 6% below the 11.43x industry average. Also, its forward Price/Sales multiple of 0.79 compares to the industry average of 2.86.
High Profitability
ALL's trailing-12-month ROCE of 19.32% is 86.8% higher than the 10.35% industry average. Similarly, the stock's 10.57% trailing-12-month ROTC is 52.4% above the 6.94% industry average. Further, its trailing-12-month asset turnover ratio of 0.58x compares to the industry average of 0.22x.
POWR Ratings Show Promise
ALL's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated considering 118 distinct factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. ALL boasts an A grade for Growth, consistent with its solid financial performance in the last reported quarter.
The stock's A grade for Momentum is justified by its share price trading above its 50-day moving average of $180.80 and 200-day moving average of $165.39. Also, its 0.48 beta justifies its B grade for Stability.
ALL is ranked #7 out of 55 stocks in the A-rated <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance - Property &amp; Casualty</a> industry. <a href="https://stocknews.com/stock/ALL/">Click here</a> to access ALL's Value, Sentiment, and Quality ratings.
Bottom Line
ALL's strong financial performance in the second quarter shows that it's effectively carrying out its profit improvement plan and pushing forward with its Transformative Growth strategy. The company has seen a nice bump in investment income and lower catastrophe losses, which means it's doing well in managing risks and helping customers.
Plus, it has the financial flexibility and resources to support its future growth plans. With that in mind, it looks like there's still plenty of room for Allstate to keep growing, making it a solid choice for investors looking to capitalize on potential gains in the insurance sector.
How Does The Allstate Corporation (ALL) Stack Up Against Its Peers?
While ALL has an overall grade of B, equating to a Buy rating, you may also check out these other A (Strong Buy)-rated stocks within the <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance - Property &amp; Casualty</a> industry: Mercury General Corporation (<a href="https://stocknews.com/stock/MCY/">MCY</a>), Unipol Gruppo S.p.A. (<a href="https://stocknews.com/stock/UFGSY/">UFGSY</a>), and QBE Insurance Group Limited (<a href="https://stocknews.com/stock/QBIEY/">QBIEY</a>). To explore more Insurance - Property &amp; Casualty stocks, <a href="https://stocknews.com/category/property-casualty-insurance/">click here</a>.
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ALL shares were trading at $188.91 per share on Friday afternoon, up $0.22 (+0.12%). Year-to-date, ALL has gained 37.17%, versus a 21.50% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/all-mcy-ufgsy-qbiey-has-allstates-35-ytd-surge-left-room-for-further-upside/>Has Allstate's 35% YTD Surge Left Room for Further Upside?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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