• Allstate reported a significant amount of catastrophe losses in March, amounting to $328 million.
• The estimated catastrophe losses in March, after-tax, was reported as $259 million.
• Allstate suffered from six significant events in March resulting in costs estimated at $343 million, equating to $271 million after-tax.
• The total catastrophe losses for the first quarter were reported as $731 million pre-tax.
• There’s been a rise in Allstate’s brand auto insurance rates leading to a premium impact of 0.9% for March and 2.4% year-to-date.
• Similarly, the rate increases for Allstate’s brand homeowners’ insurance have led to a premium impact of 0.7% for March and 3.4% year-to-date.
• Allstate’s current standing according to ratings is 15 buys, 4 holds, and 3 sells.
Allstate Corp on Smartkarma
Analyst coverage of Allstate Corp on Smartkarma highlights insights from Baptista Research. Their report, titled “The Allstate Corporation: Transforming Insurance – Key Moves in Their Growth Strategy! – Major Drivers,” leans bullish. The report notes that Allstate exceeded analyst expectations in revenue and earnings, with a 9.8% revenue increase in the third quarter, reaching $14.5 billion. The merger with National General also allowed for the consolidation of Allstate’s voluntary benefits business, offering growth opportunities in the health sector.
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
Based on the Smartkarma Smart Scores for Allstate Corp, the company shows a balanced outlook across key factors. With a Value score of 3, Dividend score of 3, Growth score of 3, Resilience score of 3, and Momentum score of 5, Allstate Corp appears to be well-rounded in its performance. The solid Momentum score suggests strong positive market sentiment and potential for continued growth in the future.
Allstate Corporation, known for providing property-liability insurance and other insurance products in the US and Canada, seems to have a stable foundation with room for advancement. While the company’s Smart Scores reflect a mix of moderate outlooks in various aspects, the high Momentum score indicates a favorable market perception and potential for sustained positive momentum in the long term.
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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