News Formal

Allstate tops profit estimates on higher premiums, investment returns

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 47 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 63%

Allstate News

Investment Returns,Economic Conditions

Insurers usually see stable product demand irrespective of economic conditions, mainly due to the widespread adoption of employer-sponsored and government...

- Insurer Allstate posted an upbeat first-quarter profit on Wednesday, helped by higher premiums and stronger investment returns.

Allstate's adjusted first-quarter swung to a profit of $5.13 per share in the three months ended March 31 from a loss of $1.30 per share in the year ago quarter. Analysts on an average estimated the company to post a profit of $3.94 per share, according to LSEG data.Allstate's investment income, on the other hand, rose to $764 million in the quarter from $575 million in 2023, mostly on the back of higher market-based and performance-based income.

This dividend stock is near 52-week highs, but still down from all-time highs, with a highly valuable P/E ratio you won't want to miss. The post 1 Magnificent Dividend Stock That’s Down 21% and Trading at a Once-in-a-Decade Valuation appeared first on The Motley Fool Canada.Bitcoin Plunges. Here’s Why and How Far Prices Could Fall.Long-term investing in resilient dividend stocks can help you convert $95,000 into $1 million. Here's how.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Allstate Earnings Beat Estimates on Lower Catastrophe LossesAllstate Corp. reported earnings that beat estimates as the property & casualty insurer benefitted from lower catastrophe losses.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Investment Plans for Japan’s Insurers Will Likely Favor JGBsJapan’s life insurers are likely to buy more domestic sovereign bonds this year after the end of negative interest rates in the country.
Source: BNNBloomberg - 🏆 83. / 50 Read more »