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The Allstate Corporation (ALL-PB)

26.27

+0.05

+(0.19%)

At close: January 30 at 4:00:02 PM EST

Nationwide to Acquire Allstate Employer Stop Loss Business for $1.25 billion

Nationwide, one of the largest providers of insurance and financial services products in the U.S., announced today that it has entered into a definitive agreement to purchase The Allstate Corporation's (NYSE: ALL) employer stop loss segment for $1.25 billion. The transaction is expected to close in the second half of 2025, subject to customary closing conditions.

PR Newswire 1 hour ago

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Allstate to Sell Group Health Business to Nationwide for $1.25 Billion Cash

Chief Financial Officer Jess Merten said that the deal will generate a financial book gain of about $450 million and increase deployable capital by $900 million.

The Wall Street Journal 1 hour ago

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Allstate to sell Group Health business to Nationwide

NORTHBROOK, Ill., January 30, 2025--The Allstate Corporation (NYSE: ALL) announced a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion in cash, adjusted for the closing balance sheet, and subject to standard closing conditions including regulatory approvals. For the first nine months of 2024, Group Health had revenues of $608 million and Adjusted Net Income of $69 million.

Business Wire 2 hours ago

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Allstate price target lowered to $235 from $243 at Keefe Bruyette

Keefe Bruyette analyst Meyer Shields lowered the firm’s price target on Allstate (ALL) to $235 from $243 and keeps an Outperform rating on the shares. The firm notes Allstate didn’t disclose December and November catastrophe losses, implying catastrophe losses below its $150M disclosure threshold in each month. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on ALL: TipRanks ‘P

TipRanks 9 days ago

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State Farm Cancels Its Super Bowl Ad, Citing Los Angeles Fires

Insurance company State Farm has abandoned its plan to run a commercial in the coming Super Bowl, saying its focus is on supporting Los Angeles residents as wildfires there continue burning.

The Wall Street Journal 14 days ago

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Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire

A large chunk of the cost of rebuilding after the Los Angeles wildfires is likely to shift to insurance customers throughout the state, under a little-noticed rule change last year by California’s insurance regulator.

The Wall Street Journal 15 days ago

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Southern California Edison parent's stock falls amid investigation, lawsuit over alleged role in LA wildfires

Edison International — the parent company of the utility Southern California Edison — has seen its stock remain under pressure as lawsuits begin over its potential role in the fires that have ravaged parts of Southern California.

Yahoo Finance 17 days ago

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The Score: Meta Platforms, Moderna, Edison International and More Stocks That Defined the Week

Meta Platforms is ending fact-checking and speech restrictions across Facebook and Instagram, as Chief Executive Mark Zuckerberg embraces a second Trump presidency. Starting in the U.S., Meta will be replacing fact-checkers with a so-called Community Notes system. Zuckerberg built up Facebook’s content-policing efforts in the wake of Trump’s first presidential election.

The Wall Street Journal 20 days ago

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Utility, insurance stocks falling as California wildfires blaze

Insurance and utility stocks, like Edison International (EIX), Pacific Gas and Electric Company (PCG), Allstate (ALL), Progressive (PGR), and Travelers (TRV), are under pressure amid the ongoing wildfires in Los Angeles, California. The blazes have been projected to cause up to $150 billion of damages, and at least 180,000 have been evacuated so far. Market Domination Co-Hosts Julie Hyman and Josh Lipton outline what investors need to know. Follow along Yahoo Finance's coverage of the southern California fires, looking into what this could mean for the broader insurance industry as people seek to submit claims for damages: California fires spark insurance crisis, projected losses of $150BInsurance stocks tumble as LA blazes 'among the most costly wildfires' in California historyCalifornia homeowners insurance market tested as fires rageThe risk landscape for insurance in 2025: AXIS CEO talks coverageKey insurance advice amid Southern California wildfires To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan.

Yahoo Finance Video 20 days ago

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Allstate Helping Southern California Customers, Communities Recover from Wildfires

NORTHBROOK, Ill., January 10, 2025--Allstate is supporting Southern California customers with their claims to help start their recovery from the wildfires. The Allstate Foundation has pledged two contributions totaling $750,000 to the American Red Cross and the Center for Disaster Philanthropy, strengthening these organizations’ ability to support communities affected by disasters.

Business Wire 20 days ago

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Allstate Stock, Other Insurers Fall as Firefighters Begin Containing L.A. Fires. Record Losses Are Expected.

Shares in Mercury, a publicly-owned insurer highly exposed to California, crashed ahead of Friday's opening bell.

Barrons.com 20 days ago

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California fires spark insurance crisis, projected losses of $150B

Five wildfires are still burning in Southern California, spreading to nearly 30,000 acres and destroying over 10,000 homes and businesses. While losses from the fires are expected to reach $150 billion, according to AccuWeather, these events are presenting a serious challenge for the insurance industry, particularly homeowners insurance in the region. CFRA Equity Research Vice President Cathy Seifert joins Morning Brief to uncover the impact this natural disaster event could pose for the broader insurance industry; major insurance stocks like Allstate (ALL), the Travelers Companies (TRV), Chubb (CB), Mercury (MCY), and American International Group (AIG) have been falling amid the increasing severity of the fires. “The insurance industry does have the capacity to address these claims. The issue, though, is a crisis of availability for homeowners in California,” she says, highlighting the distinction between economic losses and insured losses. Seifert transitions into the challenges in insurance availability due to climate change and regulatory shifts, especially in California. “Well, climate change, which we have an incoming administration that doesn't want to address, is going to increase or decrease the availability of an insurance, increase the crisis of availability, the protection gap, and ultimately the cost of climate change are inflationary as it relates to the California insurance market, interestingly enough,” she explains. Also, catch Yahoo Finance interview Susman Insurance Services President Karl Susman, who offers insurance advice for victims of the Los Angeles fires seeking to file claims. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Josh Lynch

Yahoo Finance Video 20 days ago

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Insurance stocks tumble as LA blazes 'among the most costly wildfires' in California history

Insurance and utility stocks with California exposure took a hit Friday as the Los Angeles fires continued to rage.

Yahoo Finance 20 days ago

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California Was Already in Home-Insurance Crisis Before Los Angeles Infernos

Industry officials warn of widespread economic damage on par with some of the biggest fire disasters in recent memory.

The Wall Street Journal 21 days ago

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Allstate to Hold Q4 2024 Earnings Call Feb. 6

NORTHBROOK, Ill., January 07, 2025--The Allstate Corporation (NYSE: ALL) will host a conference call and webcast at 9 a.m. ET on Thursday, Feb. 6, 2025, to discuss fourth quarter 2024 financial results.

Business Wire 23 days ago

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Nick Dawkins Named 2024 Allstate Wuerffel Trophy Recipient and Allstate AFCA Good Works Team Captain

NORTHBROOK, Ill., December 13, 2024--Nick Dawkins, a three-time Academic All-Big Ten honoree and Penn State's 2023 Public Service Award winner who founded the Dawkins Family Foundation to champion academic and athletic excellence for young students, is this year’s Allstate Wuerffel Trophy recipient and Allstate AFCA Good Works Team Captain.

Business Wire last month

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Allstate Announces Preferred Dividends Payable on Jan. 15, 2025

NORTHBROOK, Ill., December 06, 2024--Allstate declared approximately $29.3 million in aggregate dividends on three series of preferred stock for the dividend period from Oct. 15, 2024, through Jan. 14, 2025. All the preferred dividends are payable in cash on Jan. 15, 2025, to stockholders of record at the close of business on Dec. 31, 2024, as follows:

Business Wire last month

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Allstate Announces October 2024 Catastrophe Losses

NORTHBROOK, Ill., November 21, 2024--The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of October of $286 million or $226 million, after-tax, including $102 million, pre-tax, from Hurricane Milton and unfavorable reserve reestimates of $144 million, pre-tax, related to Hurricane Helene, primarily in Georgia, South Carolina and North Carolina. Total catastrophe losses for October year-to-date were $4.84 billion or $3.82 billion, after-tax.

Business Wire 2 months ago

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Allstate Health Solutions Partners with Intuit QuickBooks, Thatch and Ambetter Health to Provide Expanded Healthcare Offering

WINSTON-SALEM, N.C., November 14, 2024--Allstate Health Solutions, the Accident & Health division of Allstate, announced a new partnership with Thatch and Ambetter Health, a health insurer known for offering on-exchange plans under the Affordable Care Act (ACA), to enhance its product offerings with Intuit QuickBooks. This partnership introduces an Individual Coverage Health Reimbursement Arrangement (ICHRA), allowing businesses of all sizes to directly reimburse employees – tax free – for indiv

Business Wire 2 months ago

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Allstate price target raised to $228, named a ‘Top Pick’ at Morgan Stanley

Morgan Stanley raised the firm’s price target on Allstate (ALL) to $228 from $220 and keeps an Overweight rating on the shares and move the stock to the analyst’s “Top Pick” in the group. Allstate will grow auto policy-in-force, or PIF, in 2025, contends the firm. While the firm thinks pricing will decelerate, the competitive environment will still be “relatively favorable,” leading to efficient growth opportunities for Allstate in 2025, the analyst tells investors. Published first on TheFly – t

TipRanks 2 months ago

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Performance Overview

Return	ALL-PB	S&P 500
YTD	+1.82%	+2.78%
1-Year	+1.86%	+23.20%
3-Year	+5.59%	+36.99%

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The Allstate Corporation (ALL-PB)

Nationwide to Acquire Allstate Employer Stop Loss Business for $1.25 billion

Allstate to Sell Group Health Business to Nationwide for $1.25 Billion Cash

Allstate to sell Group Health business to Nationwide

Allstate price target lowered to $235 from $243 at Keefe Bruyette

State Farm Cancels Its Super Bowl Ad, Citing Los Angeles Fires

Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire

Southern California Edison parent's stock falls amid investigation, lawsuit over alleged role in LA wildfires

The Score: Meta Platforms, Moderna, Edison International and More Stocks That Defined the Week

Utility, insurance stocks falling as California wildfires blaze

Allstate Helping Southern California Customers, Communities Recover from Wildfires

Allstate Stock, Other Insurers Fall as Firefighters Begin Containing L.A. Fires. Record Losses Are Expected.

California fires spark insurance crisis, projected losses of $150B

Insurance stocks tumble as LA blazes 'among the most costly wildfires' in California history

California Was Already in Home-Insurance Crisis Before Los Angeles Infernos

Allstate to Hold Q4 2024 Earnings Call Feb. 6

Nick Dawkins Named 2024 Allstate Wuerffel Trophy Recipient and Allstate AFCA Good Works Team Captain

Allstate Announces Preferred Dividends Payable on Jan. 15, 2025

Allstate Announces October 2024 Catastrophe Losses

Allstate Health Solutions Partners with Intuit QuickBooks, Thatch and Ambetter Health to Provide Expanded Healthcare Offering

Allstate price target raised to $228, named a ‘Top Pick’ at Morgan Stanley

Performance Overview