Allstate Corp Stock Price, News & Analysis

The Allstate Corporation (NYSE: ALL) has finalized a $220 million agreement with Wilton Re to acquire Allstate Life Insurance Company of New York (ALNY). This move completes Allstate's exit from the life and annuity sectors, following a prior agreement to sell Allstate Life Insurance Company (ALIC) to Blackstone entities. The transaction is expected to close in the latter half of 2021, pending regulatory approval. Allstate will inject $660 million into ALNY, resulting in a projected GAAP net loss of approximately $4 billion, but will generate roughly $1.7 billion in deployable capital.

The Allstate Corporation (NYSE: ALL) reported estimated catastrophe losses of $577 million for February 2021, pre-tax. This includes costs from severe winter conditions, primarily in Texas, which had gross losses of $1.3 billion and net losses of $567 million. January 2021 saw favorable adjustments of $55 million, making Q1 catastrophe losses total $522 million pre-tax. Notably, Allstate surpassed the retention level of its nationwide aggregate reinsurance cover, concluding on March 31, 2021. For further details, visit www.allstateinvestors.com.

The Allstate Corporation (NYSE: ALL) has announced a total of approximately $26.3 million in dividends on three series of preferred stock for the period from January 15, 2021, to April 14, 2021. The dividends are payable on April 15, 2021, to shareholders on record as of March 31, 2021. The preferred stocks and their dividends include:

• 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

The Allstate Corporation (NYSE: ALL), a leading personal lines insurer, announced that CFO Mario Rizzo will present at the virtual Raymond James 42nd Annual Institutional Investors Conference on March 1 at 11:40 a.m. EST.

Investors can access the webcast at www.allstateinvestors.com, where a replay will be available shortly after the presentation. Allstate routinely publishes financial information and material announcements on its investor relations website.

Allstate has deployed six Mobile Claim Centers (MCCs) throughout Texas in response to winter storms, aimed at assisting impacted customers. These centers are located in Dallas, Houston, Austin, and San Antonio and incorporate COVID-19 safety measures. The Allstate Foundation will match employee donations to nonprofits aiding recovery in underserved communities, up to $1,000 per donor annually. The MCCs are equipped with high-speed internet and advanced technology to expedite claims. Allstate emphasizes its commitment to fast claims processing and customer support during this recovery phase.

The Allstate Corporation (NYSE: ALL) has declared a quarterly dividend of $0.81 per share, an impressive 50% increase from the previous quarter. This dividend will be paid on April 1, 2021, to shareholders on record by March 4, 2021. Over the past five years, Allstate has returned $2.9 billion in dividends and repurchased 24.9% of shares, investing $5.9 billion in growth acquisitions. The company maintains a $3 billion share repurchase authorization, indicating strong capital deployment and confidence in its growth strategy.

The Allstate Corporation (NYSE: ALL), a leading personal lines insurer, announced that its CEO Tom Wilson will present at the Bank of America Securities Conference on February 10 at 11:30 a.m. EST. The event will be virtual, and interested parties can access a live webcast and subsequent replay at www.allstateinvestors.com. Allstate routinely shares financial information and updates on this platform, ensuring stakeholders remain informed about significant company announcements.

The Allstate Corporation (NYSE: ALL) reported strong financial results for Q4 2020, with consolidated revenues rising 4.8% year-over-year to $12.0 billion and net income of $2.6 billion, marking a 52.2% increase. For the full year, net income reached $5.5 billion, up 16.7%, with adjusted net income per share up 87.5% to $5.87. The company's policies in force grew by 20.5% to 175.9 million, reflecting effective customer engagement during the pandemic. However, catastrophe losses increased by 43.7% compared to the prior year. Strong returns to shareholders included $2.4 billion in dividends and share repurchases.