Despite the **skyrocketing auto insurance rates**, hedge funds remain **bullish** on The Allstate Corporation (ALL), a key player in the property and casualty insurance sector. There has been a significant decrease in short interest, with Miracle Mile Advisors LLC recently purchasing more shares. Allstate is considering selling its Employer Voluntary Benefits business to The Standard for **$2 billion** while an investment firm, Blue Trust Inc., maintains $272,000 holdings in the company. In July 2024, Allstate announced catastrophic losses and displayed improved profitability, surpassing Q2 2024 expected earnings. The company reported a **significant turnaround** in its Q1 2024 earnings while continuing its streak of being favored by institutional owners holding 79% of Allstate’s shares. Allstate set a **new 12-month high** on analyst upgrades, its Q2 earnings increased based on property-liability rate hikes, and it sold its employer voluntary benefits business to StanCorp for $2 billion. Despite this progress, the company's stock stumbled in trading, yet the firm still shows steady growth in the Property and Casualty Insurance market.
The Allstate Corporation ALL News Analytics from Thu, 02 Nov 2023 07:00:00 GMT to Sun, 18 Aug 2024 17:46:56 GMT -
Rating 6
- Innovation 2
- Information 7
- Rumor -6
