The Allstate Corporation (ALL) has notable prominence in institutional ownership with a share of 79%. This insurance heavyweight has seen new investments from Marcum Wealth LLC along with strong trading days outperforming competitors, leading Wall Street analysts to view it as a solid investment. Brokerages have given Allstate an average rating of “Moderate Buy”. Although there are discussions around its recent price movement being underpinned by weak fundamentals, the company has shown growth in profitability, and it's considered a top momentum and value stock. Financial assessments indicate significant turnaround in Q1 of 2024 earnings, surpassing analyst predictions and resulting in an “Outperform” rating at Keefe, Bruyette & Woods. The financial performance has been influenced positively by improvement in the auto business and expansion of auto premiums. However, analysts also note that Allstate experienced underperformance and steep operating expenses. Catastrophe losses were substantial in May 2023 and 2024, primarily due to wind and hail damage. The company has also seen insider sales, dividends announcement and a decrease in some stakes. Finally, investment five years ago would have yielded a 94% gain for investors.
The Allstate Corporation ALL News Analytics from Wed, 01 Nov 2023 07:00:00 GMT to Sun, 23 Jun 2024 11:04:49 GMT -
Rating 5
- Innovation -2
- Information 6
- Rumor -3
