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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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Allstate Corporation (The) 5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053

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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

The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) today announced estimated catastrophe losses for the month of October of $286 million or $226 million, after-tax, including $102 million, pre-tax, from Hurricane Milton and unfavorable reserve reestimates of $144 million, pre-tax, related to Hurricane Helene, primarily in Georgia, South Carolina and North Carolina. Total catastrophe losses for October year-to-date were $4.84 billion or $3.82 billion, after-tax.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.allstateinvestors.com&amp;esheet=54156377&amp;newsitemid=20241121771594&amp;lan=en-US&amp;anchor=www.allstateinvestors.com&amp;index=1&amp;md5=ebb1901d3c4b2d8298664d6bd8200ed5">www.allstateinvestors.com</a>.

News

Allstate Announces Estimated Catastrophe Losses For The Month Of October Of $286M Or $226M, After-Tax, Including $102M, Pre-Tax, From Hurricane Milton And Unfavorable Reserve Reestimates Of $144M, Pre-Tax, Related To Hurricane Helene, Primarily In Georgia, South Carolina And North Carolina. Total Catastrophe Losses For October Year-To-Date Were $4.84B Or $3.82B, After-Tax

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 $209 to $230.

Price Target

Analyst Ratings

Goldman Sachs Maintains Buy on Allstate, Raises Price Target to $230

Trian Fund Management, the hedge fund led by Nelson Peltz, disclosed substantial portfolio changes in its third-quarter 13F filing, making notable exits from major companies before the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2024 U.S. presidential election</a>. 
What Happened: The fund sold off its entire stakes in GE HealthCare Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>) (1.34 million shares), Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) (2.65 million shares) and Rentokil Initial plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) (470,000 shares). 
These exits suggest a cautious pivot from sectors like healthcare and entertainment, which face both market challenges and macroeconomic pressures.
Trian also reduced its stakes in several core holdings. The fund cut its position in Wendy&#8217;s Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) by 3%, reducing its shares from 31.5 million to 30.5 million, and scaled down its investment in asset manager Invesco Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) by 15%, from 27.2 million to 23.1 million shares.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">Trump Plans To Erase EV Tax Credit: Tesla Analyst Says It&#8217;s &#8216;Net Bullish,&#8217; Calls Sell-Off &#8216;Wrong Knee-Jerk Reaction&#8217;</a>
The most substantial reduction came in Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), where Trian slashed its holdings by 69%, to 613,447 shares. These reductions reflect a strategic tightening in sectors affected by recent market volatility and economic uncertainty.
What Else: However, Trian strengthened its position in select companies, raising its stake in Solventum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOLV#NYSE">SOLV</a>) from 5.36 million to 7.13 million shares, and held its positions steady in Janus Henderson Group PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHG#NYSE">JHG</a>) and General Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) as its top holdings.
This targeted increase aligns with Trian's confidence in sectors that may benefit from potential industrial and financial sector growth.
Soon after Trian's portfolio moves in the third quarter, Donald Trump's victory in the 2024 U.S. presidential election was confirmed, along with a Republican majority in the Senate.
Trump's policy agenda, which includes corporate tax cuts, increased tariffs and a potential rollback of green energy initiatives, is expected to significantly impact markets. 
Sectors like traditional manufacturing, defense and energy may see gains under Trump's administration, aligning with Trian's portfolio shifts, especially in industrial and financial investments.
Trian's recent moves highlight a forward-looking strategy as the hedge fund prepares for an evolving economic landscape shaped by Trump's return to the White House.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41984278/jim-simons-renaissance-technologies-shifts-gears-microsoft-in-tesla-out-palantir-on-top">Jim Simons&#8217; Renaissance Technologies Shifts Gears: Microsoft In, Tesla Out, Palantir On Top</a></li>
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Image created using artificial intelligence via Midjourney.

Hedge Funds

Politics

GEHC

Janus Henderson Group plc Ordinary Shares

SOLV

Nelson Peltz's Trian Fund Management Reshaped Portfolio Ahead Of Presidential Election

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FERG

Trian Fund Management 13F Shows Decreased Stake In Wendy's Co. By 3% From 31,507,868 To 30,512,595 Shares; Decreased Stake In Invesco By 15% From 27,223,734 To 23,173,442 Shares; Decreased Stake In Ferguson Plc New By 35% From 1,953,863 To 1,270,810 Shares; Decreased Stake In The Allstate Corp By 69% From 2,013,508 To 613,447 Shares

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Allstate Corp shares are trading higher after Jefferies maintained a Buy rating on the stock and raised its price target from $231 to $267.

Jefferies analyst Yaron Kinar 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 $231 to $267.

Jefferies Maintains Buy on Allstate, Raises Price Target to $267

Morgan Stanley analyst Bob Huang 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 $220 to $228.

Morgan Stanley Maintains Overweight on Allstate, Raises Price Target to $228

Hurricane Rafael made landfall in Cuba as a Category 3 storm on Wednesday. Here's a look at what stocks could be affected as the hurricane takes <a href="https://www.benzinga.com/markets/equities/24/10/41240852/back-to-back-hurricanes-batter-floridas-insurance-market-stocks-to-watch">aim at the Gulf of Mexico. </a>
What To Know: According to <a href="https://www.foxweather.com/weather-news/tracking-hurricane-rafael-us-gulf-of-mexico-caribbean">a report</a> from Fox Weather, Hurricane Rafael made landfall in the Cuban province of Artemisa with sustained winds of 115 miles per hour, making it a Category 3 hurricane. The storm is expected to enter the Gulf of Mexico on Wednesday night and residents along the coast from Florida to Texas will be watching the storm's path.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">What Does Trump&#8217;s Victory Mean For EV Giant Tesla And The Big 3 Automakers?</a>
What To Watch: Hurricanes affect people, homes and companies in their paths and spread wide-reaching effects on various sectors and industries. Insurance companies see an influx of claims resulting from damage to property and vehicles. Homes will have to be repaired and rebuilt driving sales of lumber, windows and sheetrock higher. Power outages cause consumers to seek portable generators as an alternative way to power their homes.&nbsp;
Home improvement stores like Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) could see a pop in sales as people rush to secure their homes before the storm and repair damage after. 
Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) designs and manufactures standby generators and portable generators and often sees its shares rise before and after major weather events. 
Shares of insurance companies tend to drop after natural disasters and investors may want to keep an eye on Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Travelers Companies, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) in the days and weeks following a potential landfall from Hurricane Rafael. 
Power companies including Duke Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) and Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) could face increased labor costs and additional costs to repair infrastructure after the storm.
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Photo: Hurricane Rafael as a tropical storm, 11.5.2024. Courtesy the NOAA/Public Domain

General

GNRC

Hurricane Rafael Hits Cuba As Category 3 Storm: Stocks To Watch As Storm Heads Into Gulf Of Mexico

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 raises the price target from $222 to $225.

Keefe, Bruyette & Woods Maintains Outperform on Allstate, Raises Price Target to $225

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 raises the price target from $175 to $186.

Wells Fargo Maintains Equal-Weight on Allstate, Raises Price Target to $186

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) underwent analysis by 20 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares 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;">9</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</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;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</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>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</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 $206.3, a high estimate of $233.00, and a low estimate of $175.00. Surpassing the previous average price target of $202.06, the current average has increased by 2.1%.
<img src="https://www.benzinga.com/files/images/story/2024/1730754036_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Allstate. The following summary 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>Brian Meredith</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$225.00</td>
<td>$216.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$187.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$215.00</td>
<td>$202.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$233.00</td>
<td>$216.00</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$214.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Brian Meredith</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$216.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$207.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$216.00</td>
<td>$226.00</td>
</tr>
<tr>
<td>Yaron Kinar</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$231.00</td>
<td>$217.00</td>
</tr>
<tr>
<td>Oliver Wintermantel</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$195.00</td>
<td>$191.00</td>
</tr>
<tr>
<td>C. Gregory Peters</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Strong Buy</td>
<td>$220.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Underweight</td>
<td>$175.00</td>
<td>-</td>
</tr>
<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>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Allstate. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into 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>Unveiling the Story Behind Allstate</h2>
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.
<h3>Allstate's Financial Performance</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Allstate's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 14.69%. This signifies 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 is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 6.98%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Allstate's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 6.55%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Allstate's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.05% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Allstate's debt-to-equity ratio stands notably higher than the industry average, reaching 0.43. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: Allstate In The Eyes Of 20 Experts

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 1.37% on an annualized basis producing an average annual return of 13.0%. Currently, Allstate has a market capitalization of $48.46 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $620.20 today based on a price of $183.00 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/2024/1730750418_0_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.

Here's How Much $100 Invested In Allstate 15 Years Ago Would Be Worth Today

UBS analyst Brian Meredith 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 $216 to $225.

UBS Maintains Buy on Allstate, Raises Price Target to $225

New Arlo Total Security Bundle for Allstate Combines Professional Monitoring, Hardware, and Device Protection.
As the holiday season nears, Allstate and Arlo, a leading smart home security brand, are introducing a smarter way to protect homeowners with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.arlo.com%2Fen-us%2Fallstatebundle%3Futm_medium%3Dpressreleasek%26utm_source%3Dpressrelease&amp;esheet=54145808&amp;newsitemid=20241104228305&amp;lan=en-US&amp;anchor=The+Arlo+Total+Security+bundle+for+Allstate&amp;index=1&amp;md5=a854ccd139e5bb2b3bfae09fed00547d">The Arlo Total Security bundle for Allstate</a>.
"This exclusive package, offered at a special reduced price, helps homeowners rest easy with Arlo's advanced security system backed by a three-year extended protection plan from Allstate," said Suren Gupta, president, protection products and enterprise services at Allstate. "It's affordable, simple and connected protection, arriving in time for the holidays when people are on the go and packages are arriving."
The Arlo Total Security bundle for Allstate includes 24/7 professional monitoring, all necessary hardware (such as the Security System Keypad Hub, 5 All-in-One Sensors and 2 essential 2nd Gen Outdoor cameras), and an Allstate Protection Plan.

ARLO

Allstate And Arlo Team Up To Boost Home Protection, New Arlo Total Security Bundle For Allstate Combines Professional Monitoring, Hardware, And Device Protection

Barclays analyst Alex Scott maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Underweight and raises the price target from $175 to $187.

Barclays Maintains Underweight on Allstate, Raises Price Target to $187

Allstate shares are trading higher after the company reported better-than-expected Q3 financial results.

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) reported quarterly earnings of $3.91 per share which beat the analyst consensus estimate of $2.47 by 58.3 percent. The company reported quarterly sales of $16.60 billion which beat the analyst consensus estimate of $14.94 billion by 11.14 percent. This is a 24.77 percent increase over sales of $13.30 billion the same period last year.

Earnings

Earnings Beats

Allstate Q3 2024 Adj EPS $3.91 Beats $2.47 Estimate, Sales $16.60B Beat $14.94B Estimate

In the current market session, Allstate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) share price is at $189.00, after a 0.47% spike. Moreover, over the past month, the stock fell by 0.23%, but in the past year, increased by 47.85%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1730142010_0.png" alt="Past Year Chart" />

<h3>How Does Allstate P/E Compare to Other Companies?</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Allstate has a lower P/E than the aggregate P/E of 20.07 of the Insurance industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1730142010_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

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P/E Ratio Insights for Allstate

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 1.28% on an annualized basis producing an average annual return of 13.28%. Currently, Allstate has a market capitalization of $51.36 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $639.30 today based on a price of $194.50 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/2024/1729531883_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.

Here's How Much You Would Have Made Owning Allstate Stock In The Last 15 Years

With rapid economic growth, evolving consumer demand, and support from government initiatives, the insurance sector is flourishing. Therefore, it could be wise to invest in quality insurance stocks, Travelers Companies (TRV), Progressive (PGR), and Allstate (ALL), outperforming the market in 2024. Read more... The importance and demand for insurance are constantly growing as economic and geopolitical risks surge, accelerating the industry's growth. Also, with advancements in technologies and rapid urbanization, the market is poised for expansion.
Against this backdrop, it could be wise to invest in fundamentally strong insurance stocks, The Travelers Companies, Inc. (<a href="https://stocknews.com/stock/TRV/">TRV</a>), The Progressive Corporation (<a href="https://stocknews.com/stock/PGR/">PGR</a>), and The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>) that are beating the market in 2024.
Amid rising economic risks, uncertainties, and mandatory requirements, the insurance market's growth trajectory appears robust. The market's overall growth remained largely positive during the third quarter through buyer-friendly conditions across most of <a href="https://www.aon.com/en/insights/articles/global-insurance-market-overview-q3-2024">the global insurance market</a>.
Healthy insurer returns and improved reinsurance conditions restored insurer confidence, growth, and accelerated competition. Further, the recent <a href="https://insurancenewsnet.com/innarticle/insurance-experts-see-good-news-after-fed-cuts-rates-by-a-half-point">half-point rate cut</a> by the Federal Reserve is anticipated to benefit the insurance sector in different ways. The lower rate can stimulate borrowing and spending among consumers, offering expansion opportunities to the segment.
With this, the property &amp; casualty insurance market size is expected to register a <a href="https://www.gminsights.com/industry-analysis/property-and-casualty-insurance-market">CAGR of 5.5%</a> resulting in a market value of $3.02 trillion by 2032. Market drivers include growing urbanization worldwide, rising awareness, increasing product diversification, technological advancements, and evolving regulatory demands.
Artificial intelligence (AI) technology is transforming the insurance industry significantly, like many others. The <a href="https://www.precedenceresearch.com/artificial-intelligence-in-insurance-market">advancement of AI has revolutionized various aspects</a> like risk assessment, underwriting, claims processing, and customer service. The unique capabilities of AI are unveiling innovative ways to optimize business operations and encourage healthy competition.
Further, the insurance stocks discussed below have outperformed the <a href="https://www.spglobal.com/spdji/en/indices/equity/sp-500/#overview">S&amp;P 500</a> year-to-date (YTD) return of 24.7%. In light of these favorable trends, let's look at the fundamentals of the three <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance – Property &amp; Casualty</a> stocks, beginning with number 3.
Stock #3: The Travelers Companies, Inc. (<a href="https://stocknews.com/stock/TRV/">TRV</a>)
TRV offers commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals internationally. The company operates in three segments: Business Insurance; Bond &amp; Specialty Insurance; and Personal Insurance.
On August 1, TRV's division, Travelers Canada, launched OPTIMA&#xAE; Home, a new property insurance product that offers customizable coverage options for homeowners, tenants, condominiums, and landlord policies. Enshrined in a highly intuitive platform, the product allows brokers to seamlessly quote, issue, and adjust coverage.
On July 25, TRV released Quantum Boat 2.0, an enhanced boat insurance product that offers more personalized coverage options through an easy-to-use platform enabling agents to seamlessly quote and bind coverage. The product expanded customer eligibility and offered a better quoting experience for agents, resulting in increased efficiency and enhanced customer service.
During the third quarter that ended September 30, 2024, TRV's <a href="https://www.investopedia.com/terms/n/net-premiums-written.asp#:~:text=Net%20premiums%20written%20is%20the,to%20keep%20for%20assuming%20risk.">net written premiums</a> increased 7.9% year-over-year to $11.32 billion, and its total revenues rose 11.9% year-over-year to $11.90 billion. The company's core income came in at $1.22 billion or $5.24 per share, up 168.3% and 168.7% from the prior year's quarter, respectively.
Analysts expect TRV's revenue and EPS for the first quarter (ending March 2025) to grow 8.5% and 25.8% year-over-year to $10.98 billion and $5.90, respectively. Also, the company topped the consensus EPS estimates in three of the four trailing quarters.
Shares of TRV have surged 17.9% over the past six months and 34.7% year-to-date to close the last trading session at $256.52.
TRV's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
TRV has an A grade for Momentum. It also has a B grade for Stability. It is ranked #20 out of 55 stocks in the A-rated <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance – Property &amp; Casualty</a> industry.
In addition to the POWR Ratings we've stated above, we also have TRV ratings for Value, Quality, Growth, and Sentiment. Get all TRV ratings <a href="https://stocknews.com/stock/TRV/">here</a>.
Stock #2: The Progressive Corporation (<a href="https://stocknews.com/stock/PGR/">PGR</a>)
PGR is an insurance holding company that offers personal and commercial auto, personal residential and commercial property, business-related general liability, and other specialty property-casualty insurance products and related services. The company operates through three segments: Personal Lines; Commercial Lines; and Property.
On August 5, PGR's Board of Directors declared a $0.10 per common share dividend, paid on October 11, 2024, to shareholders of record at the close of business on October 3, 2024.
PGR pays an annual dividend of $0.40, which translates to a yield of 0.15% at the current share price. Its four-year average dividend yield is 2%. Also, the company's dividend payouts have increased at a CAGR of 8.8% over the past ten years.
For the third quarter that ended September 30, 2024, PGR's net premiums earned increased 22.8% year-over-year to $18.30 billion. The company's net income amounted to $2.33 billion and $3.97 per share, reflecting growth of 108.1% and 110.1% from the prior year's quarter, respectively.
Furthermore, as of September 30, 2024, the company's total investments and total assets stood at $79.40 billion and $105.20 billion, respectively.
Street expects PGR's revenue for the fourth quarter (ending December 2024) to increase 26.1% year-over-year to $19.08 billion, while its EPS is expected to grow 3.4% year-over-year to $3.08, respectively. Furthermore, the company surpassed the consensus revenue and EPS estimates in three of the trailing four quarters.
PGR's stock has soared 20.5% over the past six months and 61.7% year-to-date to close the last trading session at $257.50.
PGR's bright prospects are reflected in its POWR Ratings. It has an overall rating of B, translating to a Buy in our proprietary rating system.
The stock has an A grade for Momentum and a B for Quality and Sentiment. PGR is ranked #19 among 55 stocks in the same industry.
<a href="https://stocknews.com/stock/PGR/">Click here</a> to access PGR's ratings for Stability, Growth, and Value.
Stock #1: The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>)
ALL provides property and, casualty, and other insurance products. The company operates through five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.
On November 14, ALL's division, Allstate Health Solutions, entered into a new partnership with Thatch and Ambetter Health, and Intuit QuickBooks to enhance its product offerings. This strategic collaboration introduces an Individual Coverage Health Reimbursement Arrangement (ICHRA), allowing businesses to directly reimburse employees for healthcare coverage.
The partnership reflects ALL's commitment to helping people find the coverage they need. The solution will offer employees the flexibility to choose the best insurance plan according to their individual needs from a variety of coverage options.
On November 4, ALL and Arlo, a leading smart home security brand, unveiled a smarter way to protect homeowners with The Arlo Total Security bundle for Allstate. The new solution combines professional monitoring, hardware, and device protection and will benefit homeowners this holiday season.
ALL's consolidated revenues increased 14.7% from the prior-year quarter to $16.63 billion during the third quarter that ended September 30, 2024. Its consolidated premiums written rose 10% from the year-ago value to $15.87 billion. The company's adjusted net income came in at $1.05 billion and $3.19 per common share, indicating increases of 389.7% and 382.7% year-over-year, respectively.
Street expects ALL's EPS for the first quarter (ending March 2025) to increase 7.7% year-over-year to $5.53 and its revenue for the same quarter is expected to grow 7% year-over-year to $16.32 billion. Also, the company has surpassed the consensus revenue and EPS estimates in all of the trailing four quarters, which is impressive.
ALL's stock has gained 15.8% over the past six months and 39.9% year-to-date to close the last trading session at $195.78.
ALL's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
The stock has an A grade for Momentum and Sentiment. It also has a B grade for Stability. Within the A-rated Insurance – Property &amp; Casualty industry, ALL is ranked #4 among the 55 stocks.
<a href="https://stocknews.com/stock/ALL/">Click here</a> to access additional ratings of ALL for Growth, Value, and Quality.
What To Do Next?
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PGR shares were unchanged in after-hours trading Friday. Year-to-date, PGR has gained 61.61%, versus a 24.40% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/pgr-trv-all-3-insurance-stocks-that-are-beating-the-market-in-2024/>3 Insurance Stocks That Are Beating the Market in 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Insurance Stocks That Are Beating the Market in 2024

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