The Northbrook, Illinois-based The Allstate Corporation (NYSE:ALL) moved up to the record high level since 2008 after profit in the second-quarter surpassed analysts’ forecasts amid lower outlays linked with the natural disasters.
Shares of Allstate, the biggest publicly traded United States auto and home insurer, climbed 6.6% to settle in New York at $36.56 at 10:09 AM and marked the major boost in over a year. The company reported that operating profit, which excludes few investment results, was 87 cents per share, topping the 52-cent average forecasts of 23 analysts polled by Bloomberg.
CEO of Allstate Tom Wilson has been looking for rate boosts and broadened into selling car coverage directly to users over the Internet to raise profitability.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Hilltop Holdings Inc (NYSE:HTH) fell -0.10% to settle at $10.50, The Progressive Corporation (NYSE:PGR) moved up +0.10% to end at $19.76 while Horace Mann Educators Corporation (NYSE:HMN) decreased -1.43% to finish on Wednesday at $19.17.
The Allstate Corporation (NYSE:ALL) last session volume of 11.31 million shares was higher than its average volume of 3.79 million shares. The stock after opening at $35.86 hit high price of $37.00 and then closed at $36.40 by scoring +6.12%.
ALL generated revenue of 32.92 billion in the following twelve months and earned $1.04 billion. The Company showed a positive 3.14% in the net profit margin and as well as in its operating margin which remained 4.03%. Company’s annual sales growth for the past five year was -1.82%.
The ALL past twelve months price to sales ratio was +0.54 and price to cash ratio remained 31.00. As far as the returns are concern, the ALL return on equity was recorded as 5.38% while its return on asset stayed at 0.81%.
The stock showed weekly upbeat performance of +8.14% which was maintained for the month at +3.35%. Likewise the positive performance for the quarter was recorded as +11.31% and for the year was +35.77% while the YTD performance remained at +34.62%.
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