- Allstate reported net investment income of $833 million for the fourth quarter, marking a 38% increase from the previous year, surpassing estimates of $758.2 million.
- The company achieved an adjusted earnings per share (EPS) of $7.67, compared to $5.82 in the same period last year.
- Allstate’s consolidated revenue hit $16.51 billion, an 11% rise year-over-year, exceeding the forecasted $15.96 billion.
- Net premiums written were $13.76 billion, reflecting an 8.8% annual growth, aligning with expectations.
- The property-liability insurance premiums earned reached $13.93 billion, up 11% from the previous year, slightly above the estimated $13.91 billion.
- The company reported a combined ratio of 86.9%, an improvement from 89.5% in the prior year, and better than the anticipated 92.9%.
- Auto combined ratio improved to 93.5% from 98.9% the previous year, outperforming the estimated 95.4%.
- Catastrophe losses jumped to $410 million compared to $68.0 million in the same period last year.
- Property and Casualty Insurance and Claims expenses were $9.02 billion, a 2.8% increase from the prior year, lower than the expected $9.54 billion.
- Allstate’s adjusted net income was $2.06 billion, reflecting a 34% increase year-over-year.
- There are 17 buy, 3 hold, and 3 sell recommendations for Allstate.
Allstate Corp on Smartkarma
Analyst coverage of Allstate Corp on Smartkarma reveals positive sentiments towards the company’s recent financial performance and strategic initiatives. Baptista Research published a report titled “The Allstate Corporation: An Insight Into Its Efforts Towards Agency Channel Optimization & Other Major Drivers,” highlighting the company’s robust third-quarter 2024 earnings. Total revenues saw a significant 14.7% increase year-over-year, driven by growth in the Property-Liability business, with adjusted net income per share at $3.91 and a return on equity of 26.1% over the past twelve months.
Additionally, Baptista Research‘s report “The Allstate Corporation: Can Its Enhanced Advertising and Customer Acquisition Strategies Catalyze Revenues? – Major Drivers” discusses Allstate Corporation’s second quarter 2024 results, showcasing varied performance aspects. The company reported a net income of $301 million and an adjusted net income of $429 million, with revenues reaching $15.7 billion. This performance was attributed to higher property-liability earned premiums, primarily from rate increases in auto and homeowners insurance, and a significant rise in net investment income compared to the prior year quarter.
A look at Allstate Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
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
Analysts using Smartkarma Smart Scores have given Allstate Corp an overall positive outlook for the long term. With a solid score of 3 for each of its Value, Dividend, Growth, and Resilience factors, the company demonstrates stability and potential for growth in the insurance market. Additionally, Allstate Corp‘s Momentum score of 4 indicates a strong upward trend in its performance, boosting confidence in its future prospects. The Allstate Corporation, known for providing property-liability insurance in the US and Canada, is well-positioned to continue its success based on these scores.
Considering the Smartkarma Smart Scores, Allstate Corp seems to be in a favorable position for investors seeking a reliable and steadily growing company in the insurance sector. With balanced scores across key factors such as Value, Dividend, Growth, Resilience, and a particularly noteworthy Momentum score of 4, Allstate Corp stands out as a promising choice for those eyeing long-term investments. As a company specializing in private passenger automobile and homeowners insurance, along with other insurance products, Allstate’s strong performance across various indicators bodes well for its future performance and stability in the market.
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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