The Northbrook, Illinois-based The Allstate Corporation (NYSE:ALL) reported that profit in the third-quarter quadrupled on lowered disaster claims in the quarter before Hurricane Sandy lashed the East Coast.
Allstate, the biggest publicly traded United States home and auto insurer, reported in a statement on Wednesday that net income moved up to $723 million or $1.48 per share, from $175 million or 34 cents per share in previous year.
The insurer reported that operating income was $1.46 per share, surpassing the $1.13 median forecasts of 26 analysts polled by Bloomberg.
Allstate joins Chubb and the Travelers Companies, Inc (NYSE:TRV) in reporting better Q3 results a year after the industry faced record natural-disaster claims.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Safety Insurance Group, Inc. (NASDAQ:SAFT) fell -0.52% to settle at $46.35, Hilltop Holdings Inc. (NYSE:HTH) moved up +2.18% to end at $13.59 while The Progressive Corporation (NYSE:PGR) plunged -1.24% to finish at $22.30 on Wednesday.
The Allstate Corporation (NYSE:ALL) last session’s volume of 7.26 million shares was higher than its average volume of 3.51 million shares. The stock after opening at $39.90 hit high price of $40.97 and then closed at $39.98 by scoring -0.42%.
ALL generated revenue of $33.12 billion in the previous twelve months and earned $2.08 billion. The Company showed a positive 6.27% in the net profit margin as well as in its operating margin which remained at 8.94%. Company’s annual sales growth for the past five years was -1.82%.
The ALL’s past twelve months’ price to sales ratio was 0.59 and price to cash ratio remained 33.95. As far as the returns are concerned, ALL’s return on equity was recorded as 10.87% and return on asset increased 1.63%.
The stock showed weekly downbeat performance of -5.40% which was maintained for the month at 0.93%. Likewise the positive performance for the quarter was recorded as 17.24% and for the year was 51.38% while the YTD performance remained at 48.74%.
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