Allstate Corporation (The) ($ALL) Stock Forecast: Up 5.4% Today

What is Allstate Corporation (The)?

Allstate Corporation (NYSE: ALL) is a well-known insurance company in the United States, offering various insurance products and services to its customers. The company has a strong presence in the market and is known for its innovative solutions in the insurance industry.

Why is Allstate Corporation (The) going up?

ALL stock is up 5.4% on Aug 14, 2024 17:05

• Allstate's stock experienced a strong bullish movement recently.
• The bullish trend is linked to the company's strategic decision to sell its Employer Voluntary Benefits business, resulting in a $2.0 billion cash deal with StanCorp Financial Group Inc. This move is poised to generate a $600 million gain and increase deployable capital by $1.6 billion for Allstate.
• Investors appear to be responding favorably to this development, as the sale initiates Allstate's plan to boost growth and streamline operations.
• Market response reflects confidence in Allstate's strategic choices and its capacity to optimize its business portfolio for future growth and profitability.

ALL Price Chart

ALL Technical Analysis

ALL News

Top Stock Movers Now: Kellanova, Allstate, Alphabet, Starbucks, and More

U.S. equities were higher at midday as the latest report on consumer inflation came in as anticipated.

https://www.investopedia.com/top-stock-movers-now-kellanova-allstate-alphabet-starbucks-and-more-8695233

Allstate Sells Employer Voluntary Benefits Unit To StanCorp For $2B: Details

The Allstate Corporation (NYSE: ALL ) shares are trading higher after the company reached a definitive deal to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. for $2.0 billion in cash, subject to customary conditions and approvals . The sale is projected to generate a $600 million gain and increase deployable capital by $1.6 billion. Allstate expects adjusted net income return on equity to decrease by approximately 100 basis points after the sale. The deal is anticipated to close in the first half of 2025. The sale marks the initial phase of Allstate’s strategy to enhance growth by merging its … Full story available on Benzinga.com

https://www.benzinga.com/markets/equities/24/08/40361607/allstate-sells-employer-voluntary-benefits-unit-to-stancorp-for-2b-details

Allstate To Sell Employer Voluntary Benefits Business To StanCorp Financial For $2.0 Bln

NORTHFIELD TOWNSHIP (dpa-AFX) - Allstate Corp. (ALL) agreed to sell the Employer Voluntary Benefits business to StanCorp Financial Group Inc. for $2.0 billion in cash.Allstate noted that the sale …

https://www.finanznachrichten.de/nachrichten-2024-08/62991743-allstate-to-sell-employer-voluntary-benefits-business-to-stancorp-financial-for-dollar-2-0-bln-020.htm

The Standard to Acquire Allstate Employer Voluntary Benefits Business; Companies Announce Distribution Partnership

StanCorp Financial Group, Inc. (The Standard) and The Allstate Corporation (NYSE: ALL) announced earlier today a definitive agreement under which The Standard will acquire Allstate’s Employer Voluntary Benefits business for approximately $2 billion and enter into a product distribution partnership. The transaction is expected to close in the first half of 2025, subject to regulatory approvals Jetzt den vollständigen Artikel lesen

https://www.wallstreet-online.de/nachricht/18377428-the-standard-to-acquire-allstate-employer-voluntary-benefits-business-companies-announce-distribution-partnership

Allstate to sell Employer Voluntary Benefits business to The Standard | ALL Stock News

Allstate sells $2B Employer Voluntary Benefits unit to StanCorp, boosting capital by $1.6B. Deal covers 3.5M customers, includes 5-year distribution agreement. Learn how this strategic move impacts Allstate''s future growth.

https://www.stocktitan.net/news/ALL/allstate-to-sell-employer-voluntary-benefits-business-to-the-xb7h5c3mur9m.html

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Allstate Corporation (The) Price History

13.09.2023 - ALL Stock was up 5.5%

• The bullish movement in ALL could be attributed to the positive sentiment towards riskier assets in the market.
• The article mentions the bear market in global bonds and the potential impact on various sectors such as Chinese property, unlisted REITs in Europe, and commercial property in the US. This uncertainty may have led investors to seek safer investments like stocks, including ALL.
• The mention of central banks being aware of the growing pains and the need to stay nimble and have cash on the sideline could have also contributed to the bullish movement in ALL, as investors may see it as a relatively safe option in a volatile market.

02.10.2023 - ALL Stock was up 6.0%

• The bullish movement in ALL stock today can be attributed to the following factors:
• 1. Strong Q3 Earnings: The company reported better-than-expected earnings, with a significant improvement compared to the same period last year. This positive financial performance indicates that Allstate is effectively managing its business operations.
• 2. Revenue Beat: Allstate's revenue for the quarter exceeded expectations by a substantial margin. This suggests that the company is experiencing robust growth and generating higher income from its insurance products.
• 3. Strategic Investments: Allstate's recent investments in insuretech startup Next Insurance, as well as its partnership with Allianz, demonstrate the company's commitment to innovation and expanding its market reach. These strategic moves are likely seen as positive by investors, contributing to the bullish market movement.
• 4. Industry Trends: The news about other insurers leaving California due to wildfire risks may have indirectly benefited Allstate. As a well-established insurance provider, Allstate could potentially attract customers who are seeking reliable coverage in the region.
• Overall, the combination of strong financial performance, strategic investments, and favorable industry dynamics likely contributed to the bullish movement in ALL stock today.

08.01.2024 - ALL Stock was up 5.5%

• The bullish movement in ALL stock today can be attributed to the following factors:
• 1. Strong Q4 Earnings: The company reported a significant improvement in earnings, with a net income of $1.49 billion compared to a loss in the same period last year. This positive financial performance has likely boosted investor confidence in the stock.
• 2. Positive Analyst Estimates: ALL exceeded the average estimate of analysts surveyed by Zacks Investment Research, reporting earnings of $5.52 per share compared to the expected $3.87 per share. This outperformance may have attracted additional buying interest from investors.
• 3. Market Demand for Insurance: The news about insurance companies reducing coverage in climate-dangerous areas may have highlighted the importance of reliable insurance providers like Allstate. This increased awareness of the need for insurance coverage could have contributed to the bullish sentiment surrounding ALL stock.
• 4. Telematics Innovation: The article mentioning Allstate's use of telematics to help customers save money on car insurance indicates the company's commitment to innovation and customer-centric solutions. This may have positively influenced investor sentiment and contributed to the bullish market movement.
• Overall, the strong earnings, positive analyst estimates, market demand for insurance, and innovative approach to customer solutions have likely fueled the bullish movement in ALL stock today.

17.09.2023 - ALL Stock was up 7.2%

• The bullish movement in Allstate's stock today can be attributed to the following factors:
• 1. Activist Investor Trian Fund Management: The news of Trian Fund Management building a stake in Allstate has likely sparked investor optimism and confidence in the company's future prospects, leading to an increase in the stock price.
• 2. Positive Market Sentiment: The overall market sentiment, as indicated by the rising interest rates and the Federal Reserve's efforts to contain inflation, may have contributed to the bullish movement in Allstate's stock. Investors may view rising interest rates as beneficial for insurance companies, potentially leading to higher investment returns.
• 3. Natural Disasters and Losses: Despite the recent challenges faced by Allstate due to natural disasters and consecutive quarters of losses, the market seems to have responded positively to the company's efforts to recover and the potential impact of the activist investor's involvement.
• 4. Reduction in Stake by New York State Teachers Retirement System: The news of New York State Teachers Retirement System selling a portion of its stake in Allstate may have been overshadowed by the positive developments surrounding the company, leading to minimal impact on the stock price.
• Overall, the combination of Trian Fund Management's stake, positive market sentiment, and the company's resilience in the face of challenges may have contributed to the bullish movement in Allstate's stock today.

04.07.2023 - ALL Stock was up 5.1%

• The bullish movement in ALL stock today can be attributed to the following factors:
• 1. Strong Q2 Earnings: Despite reporting a net loss of $1.4 billion in the second quarter due to severe weather and elevated claim expenses, Wall Street analysts see upside for the stock. This positive sentiment may have contributed to the bullish movement.
• 2. Investor Confidence: The earnings call presentation and transcript indicate that the company is actively engaging with investors and addressing their concerns. This may have instilled confidence in the market, leading to the bullish movement.
• 3. Market Expectations: Although Allstate's Q2 loss was wider than expected, the stock may have benefited from the fact that the losses were primarily attributed to catastrophe claims. Investors may have anticipated this and focused on the revenue growth in the Protection Services unit, which partly offset the losses.
• 4. Industry Outlook: The news article mentioning Allstate's bigger loss as catastrophe claims rise could have highlighted the challenges faced by the insurance industry as a whole. However, the bullish movement suggests that investors may see Allstate as well-positioned to navigate these challenges and potentially benefit from increased demand for insurance coverage.
• Overall, despite the negative impact of severe weather and elevated claim expenses, Allstate's strong market presence, investor confidence, and positive industry outlook may have contributed to the bullish movement in the stock.

18.06.2024 - ALL Stock was up 5.1%

• The bullish movement in Allstate's stock today can be attributed to several factors:
• Allstate announcing estimated catastrophe losses for June and the second quarter of 2024. Despite the losses, investors may have viewed the transparency and proactive communication positively.
• The announcement of a quarterly dividend payable on October 1, 2024, showcasing the company's commitment to shareholder value and financial stability.
• The market likely responded favorably to these updates, as they demonstrate Allstate's resilience in managing risks and maintaining shareholder returns amidst challenging circumstances.
• Overall, the combination of transparent communication on catastrophe losses and the dividend declaration could have instilled confidence in investors, leading to the bullish movement in Allstate's stock today.

25.06.2024 - ALL Stock was down 2.6%

• The decline in Allstate Corporation's stock today may be linked to several factors:
• Legal concerns arose following a lawsuit regarding a $4 billion Maui fire settlement, possibly impacting investor confidence in the company's financial standing.
• The company's significant pretax catastrophe losses of $2.1 billion in the second quarter may have also contributed to doubts about its financial stability and profitability.
• General pessimism surrounding the insurance industry due to escalating catastrophic events and legal issues could have added to the negative sentiment around Allstate Corporation's stock today.

14.07.2024 - ALL Stock was up 5.4%

• Allstate's stock experienced a strong bullish movement recently.
• The bullish trend is linked to the company's strategic decision to sell its Employer Voluntary Benefits business, resulting in a $2.0 billion cash deal with StanCorp Financial Group Inc. This move is poised to generate a $600 million gain and increase deployable capital by $1.6 billion for Allstate.
• Investors appear to be responding favorably to this development, as the sale initiates Allstate's plan to boost growth and streamline operations.
• Market response reflects confidence in Allstate's strategic choices and its capacity to optimize its business portfolio for future growth and profitability.

14.07.2024 - ALL Stock was up 5.0%

• Allstate's stock saw a significant increase after reaching a deal to sell its Employer Voluntary Benefits business to StanCorp Financial Group for $2 billion in cash. This move is expected to generate a substantial gain and boost deployable capital, indicating a strategic shift in the company's focus.
• The sale of the business unit is part of Allstate's strategy to enhance growth and streamline its operations, potentially leading to increased efficiency and profitability in the future.
• This strategic decision to divest a non-core business segment could be positively perceived by investors, as it allows Allstate to reallocate resources and focus on core operations, which might have contributed to the bullish market movement today.