- Allstate’s net investment income was $604 million, recording an 8.4% increase year on year. However, it missed the estimate of $646.1 million.
- Adjusted earnings per share (EPS) stood at $5.82 as opposed to a loss per share of $1.36 in the previous year. This surpassed the estimate of $3.93.
- The consolidated revenue was $14.83 billion, marking a rise of 8.7% year on year, and beating the estimate of $14.45 billion.
- Net premiums written amounted to $12.64 billion, up by 10% year on year, and also exceeded the estimate of $12.5 billion.
- Property-Liability insurance premiums earned were $12.60 billion, an 11% increase year on year, and surpassed the estimate of $12.48 billion.
- The combined ratio was 89.5%, down from 109.1% in the previous year, and better than the estimated 95.7%.
- Auto combined ratio was 98.9%, down from 112.6% year on year, and better than the estimated 101.6%.
- Property and Casualty Insurance and Claims expense was $8.78 billion, a decrease of 12% year on year, and lower than the estimated $9.47 billion.
- Adjusted net income was $1.54 billion, a significant improvement from a loss of $359 million in the previous year, and beat the estimate of $1.07 billion.
- The stock had 15 buys, 6 holds, and 3 sells.
Allstate Corp on Smartkarma
The Allstate Corporation has been receiving positive coverage from analysts on Smartkarma, an independent investment research network. According to research reports from Baptista Research, a provider on the platform, Allstate Corp has exceeded analyst expectations in terms of revenue and earnings in the third quarter. They reported a 9.8% increase in revenue, totaling $14.5 billion, with a significant $1.3 billion surge from the previous year. This strong performance has been attributed to key moves in their growth strategy and major drivers such as the recent merger with National General.
In another report by Baptista Research, Allstate Corporation’s recent performance was analyzed, and the company was given a bullish outlook. While they delivered strong revenues above market expectations, their earnings fell slightly short of the analyst consensus. However, their Property-Liability earned premium saw a significant increase of 9.6% compared to the previous year quarter. This was driven by higher average premiums in auto and homeowners insurance, offset slightly by a reduction in policies in force. The report also includes a fundamental analysis of the company’s historical financial statements, providing valuable insights for investors on Smartkarma.
A look at Allstate Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 2 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
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 long-term outlook for Allstate Corp is looking positive, according to the Smartkarma Smart Scores. The company has received a score of 3 for value, indicating that it is fairly priced and has potential for growth. Additionally, Allstate has received a score of 2 for both dividend and growth, suggesting that the company is committed to providing returns to its shareholders and has potential for future expansion.
Furthermore, Allstate has received a score of 3 for resilience, indicating that it has a strong financial position and is able to withstand potential market downturns. The company has also received a top score of 5 for momentum, suggesting that it is currently performing well and has positive market sentiment. Overall, based on these scores, Allstate Corp appears to have a promising outlook for the long-term, making it a potentially attractive investment opportunity.
According to the company’s description, Allstate primarily sells property-liability insurance, as well as other types of insurance, in the United States and Canada. The company works with independent and specialized brokers to primarily sell private passenger automobile and homeowners insurance. Additionally, Allstate also offers life insurance, annuity, and group pension products through agents. With a diverse range of insurance offerings and a strong financial position, Allstate Corp is well-positioned for future growth and success.
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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