Allstate Corp Stock Price, News & Analysis

The Allstate Corporation (NYSE: ALL) has submitted a Form 8-K detailing its financial results for the quarter ending December 31, 2022. Investors can access the earnings release and supplemental information on the company's SEC page.

A conference call is scheduled for February 2 at 9 a.m. Eastern to discuss these results. Interested parties can join via the company’s investor relations website, where a recording will be available afterward. Allstate plans to file its 2022 annual report on Form 10-K with the SEC later this month, signifying its ongoing commitment to transparency with shareholders.

The Allstate Corporation (NYSE: ALL) has elected Monica Turner, President of North America at Procter & Gamble (NYSE: PG), to its board of directors, effective February 1. This appointment increases Allstate's board to 12 directors. Turner brings extensive experience in consumer-focused branding and operational leadership, which is expected to enhance Allstate's strategic direction. Tom Wilson, Allstate's Chair and CEO, emphasized Turner's role in adding valuable insights as Allstate aims to innovate its product offerings.

The Allstate Corporation (NYSE: ALL) reported preliminary fourth-quarter 2022 results, estimating a net loss of $285 to $335 million and an adjusted net loss of $335 to $385 million. Property-liability premiums rose 11.4% year-over-year to $11.5 billion, with auto premiums written up 13.3% to $7.8 billion. The combined ratio for the quarter was 109.1, negatively influenced by increased claim reserves and catastrophe losses estimated at $779 million. Net investment income was about $557 million, with total portfolio returns reflecting a 2.5% gain in Q4. The company anticipates completing its share repurchase program by September 30, 2023.

The Allstate Corporation (NYSE: ALL) is set to discuss its fourth quarter 2022 earnings during a conference call on February 2, 2023, at 9 a.m. Eastern. The earnings report will be filed with the Securities and Exchange Commission after 4:15 p.m. Eastern on February 1, 2023. Interested parties can access the earnings release and investor materials on the SEC website or Allstate's investor website. The annual report on Form 10-K for 2022 will be filed later in February. Updates and alerts regarding Allstate can be accessed through their investor website.

The Allstate Corporation (NYSE: ALL) has committed to achieve net zero emissions for all greenhouse gas emissions by 2030, surpassing the 2050 target of the Paris climate accords by 20 years. Additionally, Allstate aims for a net zero investment portfolio by the end of 2025. These initiatives are part of Allstate's strategy to manage climate risk while ensuring attractive returns for shareholders. The company also plans to reduce emissions through office efficiency improvements, renewable energy purchases, and limited carbon offsets.

Allstate provides essential tips for homeowners to ensure safety during the holiday season. Key recommendations include:

• Cook with care: Avoid distractions while cooking to prevent fires.
• Distance flammables: Keep Christmas trees and candles at least three feet away from burnable items.
• Protect pets: Choose non-hazardous decorations to avoid pet injuries.
• Clear pathways: Maintain safe walkways to prevent slips in winter.
• Use home security: Lock doors and set alarms when leaving.

Allstate Identity Protection's latest report highlights that nearly 10% of Americans have been victims of federal student debt forgiveness scams, with many contacted weekly. Scammers exploit the current uncertainty, charging fees for debt relief services that are free through the Department of Education. The report also warns about online holiday shopping scams, revealing that over half of victims lose up to $249, primarily through fraudulent purchases. Consumers are advised to be cautious while shopping online, especially during the holiday season.

The Allstate Corporation (NYSE: ALL) announced significant auto insurance rate increases of 10.2% across 13 locations in November 2022 to combat rising inflation and loss costs. This move resulted in a total brand premium impact of 2.9%, contributing to a year-to-date premium increase of 15%, equating to $3.6 billion. Notably, estimated catastrophe losses remained below $150 million for the month. CFO Jess Merten emphasized the importance of these rate hikes in maintaining financial stability amidst rising costs.

The Allstate Corporation (NYSE: ALL) declared approximately $26.3 million in dividends on three preferred stock series for the period from Oct. 15, 2022, to Jan. 14, 2023. The dividends are payable in cash on Jan. 17, 2023, to stockholders of record as of Dec. 30, 2022. The dividend breakdown is as follows:

• Series G: 5.625% annual rate, $0.3515625 quarterly
• Series H: 5.100% annual rate, $0.3187500 quarterly
• Series I: 4.750% annual rate, $0.2968750 quarterly