Markets

Allstate Swings to Q2 Profit, Besting Wall Street View (ALL)

Property and casualty insurer The Allstate Corporation ( ALL ) late Tuesday posted better-than-expected second quarter earnings, helped by higher revenue and lower catastrophe losses.

The Northbrook, IL-based company reported second quarter net income of $423 million, or 86 cents per share, compared with a net loss of $624 million, or -$1.19 per share, in the year-ago period. Excluding special items, adjusted operating profit was 87 cents per share.

Revenue rose 2.5% from last year to $8.28 billion.

On average, Wall Street analysts expected a much smaller profit of 51 cents per share, on much lower revenue of $6.82 billion.

Allstate shares rose $1.36, or +4%, in aftermarket trading Tuesday.

The Bottom Line

Shares of Allstate ( ALL ) have a 2.57% dividend yield, based on today's closing stock price of $34.30. The stock has technical support in the $31-$32 price area. The shares are trading near 52-week highs.

The Allstate Corporation ( ALL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ALL

Other Topics

Stocks

Latest Markets Videos