The Allstate Corporation (ALL) has been at the center of various portfolio changes. Its undervaluation has piqued the interest of investors, resulting in several companies, including
Commerzbank Aktiengesellschaft FI,
Charles Schwab Investment Management Inc., and
Victory Capital Management Inc., increasing their stakes in the company. There were also new stakes acquired by firms like
Barden Capital Management Inc. and
Schrum Private Wealth Management LLC. At the same time, there have been sales of shares by entities such as
US Bancorp DE and
Mesirow Financial Investment Management Inc. The company's
stock rating has been upgraded by
Argus, largely due to strong revenue growth and strategic moves. ALL is set to deliver a key presentation to mitigate insurance market fears and has initiated an 8.7% dividend hike plus a
$1.5B buyback plan. The corporation is lauded for benefiting from cost improvements and is expected to surge due to LA Wildfires recovery efforts. Notably, Allstate plans to sell its Group Health business to Nationwide, unlocking billion-dollar capital. The company has reported Q4 earnings beating estimates with strong premium and investment income.
The Allstate Corporation ALL News Analytics from Thu, 29 Aug 2024 07:00:00 GMT to Sat, 08 Mar 2025 19:22:02 GMT -
Rating 5
- Innovation 0
- Rumor -1
