Allstate Corp Stock Price, News & Analysis

The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses of $211 million for February, equivalent to $167 million after tax. Total losses from January and February reached $518 million pre-tax. The company faced nine significant events, mainly from wind and rain, though prior reserve reestimates provided some offset. Additionally, Allstate implemented auto insurance rate increases averaging 7.6% across 10 locations in February, projected to raise annualized written premiums by $127 million.

The Allstate Corporation (NYSE: ALL), a leading personal lines insurer, has announced that Jess Merten, its Chief Financial Officer, will present at the Raymond James Annual Institutional Investors Conference. This event is scheduled for 9:15 a.m. Eastern on Monday, March 6. A live webcast of the presentation will be accessible at www.allstateinvestors.com, with a replay available shortly after the event.

For ongoing financial updates and material announcements about Allstate, visit www.allstateinvestors.com.

The Allstate Corporation (NYSE: ALL) announced the redemption of its Series G Preferred Stock on April 17, 2023, totaling $575 million. This includes all 23,000 shares of Fixed Rate Noncumulative Perpetual Preferred Stock, Series G, redeemable at $25.00 per Depositary Share. Holders will receive a dividend of $0.3515625 per share for the last period ending March 31, 2023. Following the redemption, no further dividends will be paid. The redemption will be processed through the Depository Trust Company, with Equiniti Trust Company acting as the redemption agent.

The Allstate Corporation (NYSE: ALL) has declared a quarterly dividend of $0.89, reflecting a 4.7% increase from the previous quarter. This increase highlights Allstate's commitment to delivering cash returns to shareholders amidst continued financial strength. The dividend is payable on April 3, 2023, to stockholders of record by Feb. 28, 2023. Furthermore, Allstate announced a total of approximately $26.3 million in preferred dividends, payable on April 17, 2023. Over the past five years, Allstate has returned more than $15.5 billion to its shareholders.

The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses of $307 million for January, or $243 million after-tax. The losses stemmed from nine significant events, mainly in Texas and California, with total January catastrophe losses estimated at $309 million. Allstate has implemented auto insurance rate increases averaging 9.9% across 13 locations, projected to raise annualized written premiums by approximately $182 million. The company continues to address inflation-related increases in loss costs through these rate adjustments.

The Allstate Corporation (NYSE: ALL) has announced that Tom Wilson, Chair, President, and CEO, will present at the Bank of America U.S. Insurance Conference. This event is scheduled for 10:30 a.m. Eastern on Tuesday, February 14. Investors and analysts can access a live webcast of the presentation via www.allstateinvestors.com, where a replay will also be made available shortly after the event concludes. Allstate routinely shares financial updates and significant announcements on their investor relations website.

The Allstate Corporation reported a net loss of $310 million for Q4 2022, a sharp decline from a net income of $790 million in Q4 2021. Consolidated revenues increased by 4.9% to $13.6 billion, driven by a 9.5% rise in Property-Liability premiums. However, underwriting losses, primarily from auto insurance, amounted to $1 billion.

Adjusted net income showed a loss of $359 million, impacted by heightened claims severity and catastrophe losses. The combined ratio for Property-Liability soared to 109.1, indicating adverse underwriting conditions.

Despite challenges, the company executed a transformative growth strategy with premium increases expected to improve margins in 2023.

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.