- Allstate’s net investment income reached $854 million, marking a 12% increase year-over-year, and outperforming the estimate of $816.9 million.
- Adjusted earnings per share (EPS) were reported at $3.53, compared to $5.13 for the same quarter last year.
- Total consolidated revenue increased by 8.1% year-over-year to $16.5 billion, surpassing the expected $16.36 billion.
- Property-Liability insurance premiums earned rose to $14.0 billion, an 8.5% increase from the previous year, slightly below the forecasted $14.04 billion.
- The auto insurance sector showed improvement with a combined ratio of 91.3%, better than the 96% recorded in the prior year.
- Property and Casualty Insurance and Claims expenses climbed 14% year-over-year to $10.82 billion, which was below the projected $10.98 billion.
- Adjusted net income fell by 31% year-over-year to $949 million.
- Analyst recommendations include 18 ‘buy’ ratings, 2 ‘hold’ ratings, and 3 ‘sell’ ratings.
Allstate Corp on Smartkarma
Analyst coverage of Allstate Corp on Smartkarma, an independent research network, highlights positive sentiment from Baptista Research. In a report titled “Allstate Corporation: Strategic Navigation in Challenging Markets to Strengthen Its Position In Favorable Markets!” the company’s recent earnings call showcased a 11.3% revenue increase in the fourth quarter of 2024, with total revenues hitting $16.5 billion for the quarter and $64.1 billion for the full year.
Baptista Research‘s analysis continued with another bullish report, “The Allstate Corporation: An Insight Into Its Efforts Towards Agency Channel Optimization & Other Major Drivers.” The third-quarter 2024 earnings call revealed strong financial performance, including a 14.7% revenue growth to $16.6 billion for the quarter. Notably, the Property-Liability business segment drove this growth, leading to an adjusted net income per share of $3.91 and an impressive return on equity of 26.1% over the past twelve months.
A look at Allstate Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
The Allstate Corporation, a leading insurance provider in the United States and Canada, is positioned for a stable long-term outlook based on the Smartkarma Smart Scores analysis. With balanced scores of 3 for Value, Dividend, Growth, and Resilience, the company showcases a solid foundation across key financial factors. Additionally, Allstate excels in Momentum with a score of 5, indicating strong market performance and positive investor sentiment.
Despite facing average scores in fundamental areas, Allstate Corp‘s exceptional Momentum score highlights its potential for continued growth and market traction. As a provider of property-liability, automobile, homeowners, life insurance, annuity, and pension products through various distribution channels, Allstate’s diversified portfolio positions it well to capitalize on evolving consumer needs and market opportunities in the insurance sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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