Allstate Corp Stock Price, News & Analysis

The Allstate Corporation (NYSE: ALL) reported a net loss of $1.04 billion for Q2 2022, a stark contrast to a net income of $1.60 billion in Q2 2021, primarily due to higher catastrophe losses and increased claims severity. Consolidated revenues fell 3.4% to $12.2 billion. The property-liability combined ratio rose to 107.9 from 95.7, indicating higher underwriting losses. However, property-liability premiums increased by 8.6%. The company plans to improve profitability through price increases, underwriting restrictions, and cost reductions, while returning $919 million to shareholders through dividends and repurchases.

The Allstate Corporation (NYSE: ALL) filed a Form 8-K disclosing its financial results for the quarter ending June 30, 2022. Key documents can be found on the company's SEC page. A reinsurance update is also set for release on the company website around 5 p.m. Eastern on August 4. Additionally, a conference call and webcast to discuss second-quarter results will be hosted at 9 a.m. Eastern on the same day. Interested parties can access the webcast and subsequent replay at the company’s investor site.

The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses of $356 million in June, leading to total second-quarter losses of $1.11 billion, pre-tax. The company faced $408 million in unfavorable reserve reestimates due to inflationary pressures, primarily in personal auto insurance. The combined ratio for property-liability was reported at 107.9, with an underlying ratio of 93.4. Allstate implemented auto insurance rate increases averaging 10.7%, projected to raise annualized premiums by $2.17 billion.

Allstate and the American Football Coaches Association (AFCA) announced the nominees for the 2022 Allstate AFCA Good Works Team®, recognizing 114 student-athletes for their community service and academic excellence. For 31 years, this award has celebrated young men who positively impact their communities. The final 22-member team will be selected by a panel and announced in September, with fans voting for the captain. The nominees include players from various NCAA divisions, all demonstrating leadership and dedication to charitable organizations while maintaining academic standing.

The Allstate Corporation (NYSE: ALL) has approved a quarterly dividend of 85 cents per share. This dividend will be paid in cash on Oct. 3, 2022, to stockholders of record as of the close of business on Aug. 31, 2022. This announcement reflects Allstate's commitment to returning value to its shareholders.

The Allstate Corporation (NYSE: ALL) is scheduled to announce its second quarter 2022 earnings on August 3, 2022, post-market at 4:15 PM Eastern. A conference call will follow on August 4, 2022, at 9 AM Eastern to discuss the results. Detailed financial information can be accessed via the SEC website and the Allstate investor site. Investors can also subscribe for alerts through the Allstate website to stay updated on earnings and other significant announcements.

The National Safety Council (NSC) has released an executive summary of a report, funded by Allstate (NYSE: ALL), addressing the national crisis of roadway fatalities, which reached a 16-year high with over 46,000 deaths in 2021. The report, titled Mobility, Technology and Safety: The Next 20 Years, outlines 10 key conclusions aimed at improving future mobility safety. These include addressing the dangers posed by motor vehicles, the need for infrastructure revisions, and protecting vulnerable road users. The full report is set to be released on July 26, 2022.

The Allstate Corporation (NYSE: ALL) announced estimated catastrophe losses for May totaling $436 million, or $344 million after-tax, primarily due to wind and hail in Texas, the Midwest, and Canada. The company reported total catastrophe losses of $752 million for April and May. In response to inflationary impacts on auto insurance severities, Allstate implemented rate increases averaging 8.1% across 49 locations, resulting in a $180 million premium impact in May.