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Allstate

Allstate is one of the largest US property and casualty insurers in the US. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 10,000 company agencies.

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On CNBC’s &#34;Mad Money Lightning Round,&#34; Jim Cramer recommended buying  The Allstate Corporation  (NYSE: ALL), which recently posted upbeat results for its fourth quarter.

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Allstate Corporation (The) 5.100% Fixed-to-Floating Rate Subordinated Debentures due 2053

Allstate Corporation (The) Depositary Shares each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series H

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Allstate Corporation (The) Depositary Shares each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series J

Providing a diverse range of perspectives from bullish to bearish, 12 analysts have published ratings on Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) in the last three months.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $183.0, along with a high estimate of $200.00 and a low estimate of $146.00. This current average reflects an increase of 6.67% from the previous average price target of $171.55. 
<img src="https://www.benzinga.com/files/images/story/2024/1718989295_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A comprehensive examination of how financial experts perceive Allstate is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$194.00</td>
<td>$194.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$153.00</td>
<td>$146.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$193.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Michael Phillips</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$190.00</td>
<td>$187.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$146.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Oliver Wintermantel</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$173.00</td>
<td>$166.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$189.00</td>
<td>$181.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$185.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Harry Fong</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$200.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Paul Newsome</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$188.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Vikram Gandhi</td>
<td>HSBC</td>
<td>Announces</td>
<td>Buy</td>
<td>$190.00</td>
<td>-</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$195.00</td>
<td>$164.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Allstate. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Allstate compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
For valuable insights into Allstate's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ALL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Allstate analyst ratings.</a>
<h2>Discovering Allstate: A Closer Look</h2>
Allstate is one of the largest US property and casualty insurers in the US. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 10,000 company agencies.
<h3>Allstate: Delving into Financials</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Allstate's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 10.68%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Allstate's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 7.79%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Allstate's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 7.34% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Allstate's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.14%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Allstate's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.48, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Analyst Scoreboard: 12 Ratings For Allstate

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Outperform and maintains $194 price target.

Price Target

Keefe, Bruyette & Woods Maintains Outperform on Allstate, Maintains $194 Price Target

Allstate Reports $1.4B Catastrophe Loss In May 2024.

<a href="https://www.benzinga.com/markets/cannabis/24/03/37622572/cannabis-industry-moguls-meet-in-miami-for-benzinga-conference-all-about-the-event-where-decisio">Flood waters in South Florida </a>may continue to rise due to persistent torrential rains this week, while the impact on shares of major insurance providers is yet to be determined, with stocks showing little change as of Thursday.
Miami and Miami Beach received about 6 inches of rain on Tuesday, while Hollywood got about 5 inches, according to the National Weather Service. On Wednesday, Florida Gov. Ron DeSantis declared a state of emergency across South Florida.
More rain has been forecasted for the rest of the week, leading the weather service office in Miami to extend a flash flood watch through Thursday. Some places could see another 6 inches of rain, the AP reported.
Shares of Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) edged up 0.57% to $203.60 on Thursday, while Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) finished 0.12% higher at $160.83.
Also read: <a href="https://www.benzinga.com/markets/cannabis/24/06/39311053/desantis-blasts-cannabis-legalization-amendment-says-people-will-be-able-to-bring-20-joints-to-a">DeSantis Blasts Cannabis Legalization Amendment, Says People Will Be Able To Bring &#8217;20 Joints To An Elementary School&#8217;</a>
Florida&#8217;s western side was also hit with significant rainfall after a prolonged drought while under a flash-flood warning, the weather service said. Almost 6.5 inches of rain fell Tuesday at Sarasota Bradenton International Airport.
The National Oceanic and Atmospheric Administration estimates an 85% chance that the Atlantic hurricane season will be above average, predicting between 17 and 25 named storms in the coming months, including up to 13 hurricanes and four major hurricanes. An average season has 14 named storms.
More than 80% of Floridians do not have flood insurance, despite the gaining frequency of hurricanes and other storms that result in widespread flooding, WFLX News in West Palm Beach reported. Only 18% of homeowners have a flood policy.
Florida&#8217;s commercial-property insurance costs last year surged at nearly five times the national pace, according to credit rating firm AM Best Co. Inc., Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-20/florida-hurricanes-create-expensive-property-insurance-threaten-senior-care?sref=TBDibEcD">reported</a>.
This has caused more nursing homes to close down each year, while others miss debt payments. 
In the five-year period ending in 2023, commercial property insurance costs in Florida skyrocketed 125%, according to Bloomberg. Last year, annual premiums soared about 27% in the state — for the second year in a row — while nationwide the growth rate slowed to nearly 6% from about 15%, according to AM Best.
From 2019 to 2023, damage from natural disasters like tropical cyclones and severe storms at least doubled to as much as $200 billion from the 10 years prior, according to the National Centers for Environmental Information. That five-year tally includes Hurricane Ian — the third-costliest hurricane in US history.
Read now: <a href="https://www.benzinga.com/news/24/06/39310998/disney-vs-ron-desantis-mouse-house-and-florida-governor-settle-dispute-clearing-path-for-15-year-exp">Disney Vs. Ron DeSantis: Mouse House And Florida Governor Settle Dispute, Clearing Path For 15-Year Expansion Plan</a>
Photo: Shutterstock

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.21% on an annualized basis producing an average annual return of 13.34%. Currently, Allstate has a market capitalization of $43.39 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $641.16 today based on a price of $164.41 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717516830_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 15 Years Ago Would Be Worth $600 Today

Meteorologists at the National Oceanic and Atmospheric Administration (NOAA) have issued a bleak forecast for 2024&#8217;s hurricane season, which runs June 1 to Nov. 30. The most devastating hurricanes <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34152737/as-florida-surveys-damage-after-hurricane-idalia-heres-what-it-means-for-stocks-and">cause</a> hundreds of billions of dollars in damages and can greatly <a href="https://www.benzinga.com/topic/hurricanes">impact the financial markets</a>.
NOAA Announcement: NOAA administrator Rick Spinrad <a href="https://www.noaa.gov/news-release/noaa-predicts-above-normal-2024-atlantic-hurricane-season">outlined</a> the NOAA&#8217;s forecasts at a news conference on Thursday.
In the Atlantic region, forecasters predict an 85% chance of an above-normal hurricane season, a 10% chance of a near-normal season and a 5% chance of a below-normal season. The NOAA predicts there will be eight to 13 hurricanes with four to seven of those being classified as severe.
This year&#8217;s heightened forecast is attributed to warm ocean temperatures, La Nina in the Pacific, Atlantic trade winds and less wind shear.
Why it Matters: Extreme weather can cause changes in commodity prices and affect consumer demand.
Home improvement stores such as Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) tend to see increases in sales after extreme weather events. 
Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) produces household generators, which may increase in popularity before and after hurricanes as consumers brace for power outages.
Recent increases in extreme weather are widely <a href="https://www.edf.org/climate/climate-change-and-extreme-weather">attributed</a> to climate change. The transition to clean energy has been led by companies such as First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) and Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>). Popular ETF options are the iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) and the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>).
Major <a href="https://www.benzinga.com/markets/equities/23/09/34211910/home-insurance-shockwave-climate-risks-trigger-coverage-cuts-as-claims-surge-report">insurers</a> such as Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) have ended coverage in certain regions due to climate risks.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38851467/will-home-depot-continue-to-weather-macro-challenges-continued-softness-in-discreti">Will Home Depot Continue To Weather Macro Challenges? &#8216;Continued Softness In Discretionary Projects,&#8217; But &#8216;Compelling Recovery Opportunity,&#8217; Say Analysts</a>
Photo: 12019 from Pixabay

Allstate Announceds Estimated Catastrophe Losses For The Month Of April Of $494M Or $390M, After-Tax; Catastrophe Losses Included 11 Events Estimated At $491M, With ~80% Of The Losses Related To Four Wind, Hail Or Tornadic Events

Allstate Announces Estimated April 2024 Catastrophe Losses of $494M or $390M, After-Tax

The insurance sector is among the prime beneficiaries of higher rates for a longer period. This is because the sector players are able to earn higher returns on their investment portfolio of longer-duration bonds. However, these firms incur losses as the value of longer-duration bonds goes down with a rise in interest rates. Nevertheless, since insurance companies have long-term investment horizons, they can hold investments until maturity, and hence, no actual losses are realized. 
Additionally, decent earnings reports have helped the sector to survive the market rout seen last month. SPDR S&amp;P Insurance ETF (ARCA:KIE) and iShares U.S. Insurance ETF (ARCA:IAK) are down about just 0.6% each over the past month, while Invesco KBW Property &amp; Casualty Insurance ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kbwp#NASDAQ">KBWP</a>) is relatively flat.
<h3>Insurance Earnings in Focus</h3>
The U.S. life insurance behemoth MetLife (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/met#NYSE">MET</a>) matched earnings estimates but missed revenue estimates. MetLife reported earnings of $1.83 per share, which were on par with the Zacks Consensus Estimate and improved 20.4% from the year-ago quarter. Revenues climbed 5.5% year over year to $17 billion and were below the consensus estimate of $17.69 billion. The second-largest U.S. life insurer Prudential Financial (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pru#NYSE">PRU</a>) missed on earnings but beat estimates on revenues. Earnings per share of $3.12 lagged the Zacks Consensus Estimate of $3.16 but increased 15.5% from the year-ago earnings. Revenues grew 44.8% year over year to $21.70 billion and edged past the consensus mark of $14.78 billion. 
Chubb Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cb#NYSE">CB</a>), one of the leading property and casualty insurers, surpassed the Zacks Consensus Estimate for earnings per share by 12 cents and topped the revenue estimate by $433 million. Earnings per share improved 22.7% year over year. Another property and casualty insurer, Allstate (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>) posted an earnings per share of $5.13, surpassing the Zacks Consensus Estimate of $4.11. The company had reported a loss of $1.30 per share in the year-ago quarter. Revenues grew 12% year over year to $15.40 billion, well above the consensus mark of $15.29 billion. 
Earnings per share of $1.66 reported by Aflac (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/afl#NYSE">AFL</a>), a seller of supplemental health insurance, trumped the Zacks Consensus Estimate by 8 cents and improved from the year-ago earnings of $1.55. Revenues grew 13.3% year over year to $5.4 billion and beat the consensus mark of $5.3 billion. 
Personal property and casualty insurer Travelers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) posted earnings per share of $4.69, missing the Zacks Consensus Estimate by 6 cents but improving 14.1% from the year-ago earnings. Revenues grew 15.3% year over year to $11.2 billion and edged past the consensus mark of $11.9 billion.
<h3>ETFs in Focus</h3>
SPDR S&amp;P Insurance ETF 
SPDR S&amp;P Insurance ETF follows the S&amp;P Insurance Select Industry Index, holding well-diversified 48 stocks in its basket. About 50% of the portfolio is allocated to property and casualty insurance, while life &amp; health insurance and insurance brokers round off the next two spots with double-digit exposure. SPDR S&amp;P Insurance ETF has managed $715.6 million in its asset base and charges 35 bps in annual fees. It has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. 
iShares U.S. Insurance ETF 
With AUM of $638.7 million, iShares U.S. Insurance ETF offers exposure to U.S. companies that provide life, property and casualty, and full-line insurance. It tracks the Dow Jones U.S. Select Insurance Index and holds 54 securities in its basket with a double-digit concentration on the top two firms. Property &amp; casualty insurance accounts for the largest share at 69.6%, while life &amp; health insurance rounds off the next spot with double-digit exposure. iShares U.S. Insurance ETF charges 40 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook. 
Invesco KBW Property &amp; Casualty Insurance ETF 
Invesco KBW Property &amp; Casualty Insurance ETF provides exposure to 25 companies primarily engaged in U.S. property and casualty insurance activities. It follows the KBW Nasdaq Property &amp; Casualty Index and is concentrated on the top five firms that make up about 8% share each. Invesco KBW Property &amp; Casualty Insurance ETF has managed $317.9 million in its asset base and has an expense ratio of 0.35%. KBWP has a Zacks ETF Rank #3 with a Medium risk outlook.
<a href="https://www.zacks.com/stock/news/2271639/here-s-how-insurance-etfs-are-placed-post-q1-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2271639">To read this article on Zacks.com click here.</a>

Here's How Insurance ETFs Are Placed Post Q1 Earnings

Analysts' ratings for Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) over the last quarter vary from bullish to bearish, as provided by 13 analysts.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $182.15, a high estimate of $200.00, and a low estimate of $146.00. Witnessing a positive shift, the current average has risen by 7.41% from the previous average price target of $169.58.
<img src="https://www.benzinga.com/files/images/story/2024/1715356818_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Allstate. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$153.00</td>
<td>$146.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$193.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Michael Phillips</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$190.00</td>
<td>$187.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$146.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Oliver Wintermantel</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$173.00</td>
<td>$166.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$189.00</td>
<td>$181.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$185.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Harry Fong</td>
<td>Roth MKM</td>
<td>Raises</td>
<td>Buy</td>
<td>$200.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Paul Newsome</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$188.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Vikram Gandhi</td>
<td>HSBC</td>
<td>Announces</td>
<td>Buy</td>
<td>$190.00</td>
<td>-</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$195.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$181.00</td>
<td>$171.00</td>
</tr>
<tr>
<td>Brian Meredith</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$185.00</td>
<td>$171.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Allstate. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Allstate compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
To gain a panoramic view of Allstate's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ALL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Allstate analyst ratings.</a>
<h2>Unveiling the Story Behind Allstate</h2>
Allstate is one of the largest US property and casualty insurers in the US. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 10,000 company agencies.
<h3>Key Indicators: Allstate's Financial Health</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Allstate displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 8.68%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Allstate's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 9.84%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Allstate's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.3% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.43%, the company showcases effective utilization of assets.
Debt Management: Allstate's debt-to-equity ratio surpasses industry norms, standing at 0.5. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into Allstate Stock: Analyst Perspectives (13 Ratings)

Wells Fargo analyst Elyse Greenspan maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Underweight and raises the price target from $146 to $153.

Wells Fargo Maintains Underweight on Allstate, Raises Price Target to $153

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.37% on an annualized basis producing an average annual return of 13.85%. Currently, Allstate has a market capitalization of $44.73 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $671.31 today based on a price of $169.50 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715094084_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Allstate 15 Years Ago Would Be Worth Today

JP Morgan analyst Jimmy Bhullar maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Overweight and raises the price target from $185 to $193.

JP Morgan Maintains Overweight on Allstate, Raises Price Target to $193

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) reported quarterly earnings of $5.13 per share which beat the analyst consensus estimate of $3.94 by 30.2 percent. The company reported quarterly sales of $13.183 billion which beat the analyst consensus estimate of $12.875 billion by 2.39 percent. This is a 11.88 percent increase over sales of $11.783 billion the same period last year.

Earnings Beats

Allstate Q1 2024 Adj EPS $5.13 Beats $3.94 Estimate, Premiums Written $13.183B Beat $12.875B Estimate

Traders are treading cautiously in Wednesday&#8217;s session, seeking more clarity on the Federal Reserve&#8217;s stance with <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">inflation reports exceeding expectations. </a>
The forthcoming Federal Open Market Committee statement is anticipated to maintain interest rates where they are and possibly unveil a reduction in the Fed&#8217;s balance sheet runoff from $60 billion to $30 billion monthly. Fed Chair Jerome Powell&#8216;s press conference is at 2:30 p.m. ET.
The S&amp;P 500 inched 0.2% lower, while the tech-heavy Nasdaq 100 underperformed, down 0.6%. Blue chips managed to avoid losses and showcased a 0.3% rise. 
Aside from Fed policy, earnings remain a key driver of market sentiment, particularly as chipmaker Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) offered less optimistic second-quarter guidance than expected. This news led to a nearly 10% drop in its share price. In sympathy, the broader industry saw a decline, with heavyweight Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) also experiencing a more than 5% decrease in its shares.
Data-wise, the ADP National Employment Report revealed a stronger-than-expected private jobs addition in April, ahead of the highly awaited official jobs report on Friday. The ISM Manufacturing Index surprisingly fell back into contraction territory, missing expectations. 
Sentiment on the cryptocurrency market continued to remain fragile, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sinking over 5%, on track for a two-day, 10% slump, the worst since November 2022. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,940.89</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,972.88</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,024.25</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,334.25</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:28 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.2% to $501.04, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.3% to $379.38 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.6% to $422.21, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.2%, followed by the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), up 1.1%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 1.6%.
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) plummeted over 16% in reaction to its earnings report. </li>
<li>Other companies reacting to earnings were Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), up 1.2%, Stryker Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIK#NYSE">SIK</a>), Mondelez International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NYSE">MDLZ</a>) down 1.6%, Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) down 1%, Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), The Estee Lauder Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), down 13%, Pinterest Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NASDAQ">PINS</a>) up nearly 20%, New York Community Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) up over 30% and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down nearly 14%.</li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38557569/april-jobs-report-preview-bank-of-america-anticipates-solid-payrolls-growth-risin">April Jobs Report Preview: Bank Of America Anticipates Solid Payrolls Growth, Rising Wage Pressures</a>
Illustration created using artificial intelligence via MidJourney.

US Stocks Mixed Ahead Of Fed Meeting, Chipmakers Tumble After AMD Earnings, Bitcoin Sinks: What's Driving Markets Wednesday?

A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after&nbsp;Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up" rel="noreferrer noopener">underwhelming quarterly report</a>, exerting pressure on the tech sector and the broader market. However, the afternoon&#8217;s Federal Reserve interest rate decision and subsequent press conference by Chairman&nbsp;Jerome Powell&nbsp;could be the&nbsp;key&nbsp;catalyst that ultimately determines the session&#8217;s direction.
Despite potential short-term headwinds, some analysts view the April market pullback as a necessary correction after a strong rally, paving the way for renewed momentum in the coming months.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.72%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $499.92,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 0.75% to $421.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Inclement economic data weighed down on the market on Tuesday, as the major averages reversed course, snapping a two-session advance. The employment cost index &#8211; a measure of wage-induced inflation rose more than expected in the first quarter, Chicago region&#8217;s manufacturing activity sunk further into contraction territory and consumer confidence fell below a threshold that demarcates receding and improving sentiment, three separate reports showed.
Bond yields spiked, exerting further downward pressure on stocks.
The averages opened narrowly mixed and moved roughly sideways in early trading. The indices declined steadily through the remainder of the session, ending notably lower for the day. The sell-off was broad-based, with IT, energy, and consumer discretionary stocks serving as big drags.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-2.04%</td>
<td>15,657.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-1.57%</td>
<td>5,035.69</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.49%</td>
<td>37,815.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.09%</td>
<td>1,973.91</td>
</tr>
</tbody>
</table>
</figure>
For the month, the indices fell 4.41%, 4.16%, 5.00% and 7.09%, respectively, with the S&amp;P 500 snapping a five-month winning run.
Insights From Analysts:
Powell alone can help lift some of the overhang surrounding the rate outlook and this could be the need of the hour, according to an analyst. Charlie Ripley, Senior Investment Strategist for Allianz Investment Management, said, &#8220;Market sentiment continues to waver on inflation-related data sets,&#8221; said the analyst, adding that data showing a jump in employment costs left an &#8220;unsavory taste in the mouth of investors.&#8221; 
&#8220;The continued realization that sticky service-related inflation metrics are taking a bite out of the Fed's rate-cutting plans has investors on edge for the time being and this is squarely being reflected in the sell-off of both bonds and equities,&#8221; Ripley said.
He expects Powell to help shed some light on the current uncertainty surrounding the path of policy rates.  
Carson Group&#8217;s Ryan Detrick, meanwhile, isn&#8217;t worried about the normally bullish April struggling this year. The S&amp;P 500 Index has been higher for five months in a row heading into it and some type of break was warranted, he said.
&#8220;In fact, we wouldn't be surprised if stocks consolidated for another month or so, working off some of the historic rebound off the late-October lows. We do not expect major weakness, but a break makes sense,&#8221; he added.
Detrick raised the specter of a summer rally, and strength during these six months, given it is an election year and stocks have been strong so far this year.
Upcoming Economic Data:
<ul>
<li>ADP is due to release its private payroll data for April at 8:15 a.m. EDT. Economists, on average, expect the sector to have added 183,000 jobs during the month, flattish with the previous month.</li>
<li>The Institute for Supply Management is scheduled to release its manufacturing purchasing managers&#8217; index for March at 10 a.m. EDT. The consensus estimate calls for a reading of 49.9, suggesting contraction, down from 50.3 in February.</li>
<li>The Labor Department will release the results of its Job Openings and Labor Turnover survey at 10 a.m. EDT, with the average economists&#8217; estimate for job openings at 8.7 million for March, down from 8.8 million in February.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, will likely show a 0.3% month-over-month increase in spending in March. This compares to a 0.3% drop in the previous month.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Fed will release its post-meeting policy statement at 2 p.m. EDT and this will be followed by Powell&#8217;s press conference at 2:30 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>AMD fell over 6.5% in <a href="https://www.benzinga.com/premarket">premarket trading </a>after the company reported a small first-quarter beat and issued a lukewarm forward guidance. Peer Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip stocks moved in sympathy.</li>
<li> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) climbed over 2% following its first-quarter results.</li>
<li>Other stocks moving on earnings are Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) (up about 18%), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (down over 12%), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) (down about 13%), and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) (down about 9%).</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell for a third straight session, as the price pulled back toward the $80-a-barrel mark, and gold futures were little changed with a negative bias. An ounce of gold traded for around $2,300.
The 10-year note yield edged up and was around the 4.69% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back sharply toward the $57K mark.
Most global equity markets remained closed for the Labor Day holiday. The open ones, including Japan, New Zealand, and Australia, settled lower ahead of the U.S. Fed decision.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
Photo by Tada Images on Shutterstock

Wall Street Set To Open Lower After AMD Earnings Disappoint As Traders Look To Fed's Powell For Relief: Why This Analyst Sees Incoming Summer Rally

Offerings

Allstate Files Mixed-Securities Shelf

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

Morgan Stanley analyst Michael Phillips maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Overweight and raises the price target from $187 to $190.

Morgan Stanley Maintains Overweight on Allstate, Raises Price Target to $190

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.93% on an annualized basis producing an average annual return of 14.81%. Currently, Allstate has a market capitalization of $44.43 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $719.21 today based on a price of $168.44 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712937630_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BMO Capital analyst Michael Zaremski has maintained their neutral stance on ALL stock, giving a Hold rating on June 5. Michael Zaremski has given h...

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An update from Allstate (ALL) is now available. Allstate has released an estimate of catastrophe losses for May 2024, which can be accessed on thei...

Allstate Announces May 2024 Catastrophe Loss Estimates

KBW analyst Meyer Shields maintained a Buy rating on Allstate (ALL – Research Report) today and set a price target of $194.00. The company's shares...

Allstate (ALL) Gets a Buy from KBW

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The insurance sector shows promise due to rising demand, enhanced risk assessment, and innovation. Given their solid growth potential, investors might consider buying strong insurance stocks such as Allstate (ALL), Hartford Financial Services (HIG), and Brown & Brown (BRO), which offer great stability and growth. Keep reading... The insurance industry is experiencing significant growth, driven by various factors that are reshaping the landscape. Technological advancements, demographic shifts, and evolving customer expectations are key contributors to this expansion.
Digital transformation is playing a crucial role in the industry's growth. Insurtech innovations are streamlining processes, enhancing customer experiences, and improving risk assessment and management.
Hence, investors might consider buying fundamentally strong insurance stocks such as The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>), The Hartford Financial Services Group, Inc. (<a href="https://stocknews.com/stock/HIG/">HIG</a>), and Brown &amp; Brown, Inc. (<a href="https://stocknews.com/stock/BRO/">BRO</a>), due to their solid growth potential and stability.
Despite a slow first quarter with GDP growth at 1.4%, the US economy shows <a href="https://apnews.com/article/economy-growth-inflation-gdp-consumers-federal-reserve-869a27c99459a1ad10d0db89718f725d">promise</a> with strong business investment and potential recovery from temporary issues like high imports and inventory adjustments. Notably, the insurance market is growing due to rising demand from emerging economies, higher cyber insurance needs, and technological advancements.
Meanwhile, the insurance market is stable, thanks to rising awareness about financial security, particularly among Millennials and Gen Z, and the industry's move towards digitalization and personalized services. The insurance brokers and agents market is projected to achieve a <a href="https://www.thebusinessresearchcompany.com/market-insights/insurance-brokers-and-agents-market-2024">7% CAGR</a> reaching $612.72 billion by 2028, driven by digital customer engagement and the emergence of online platforms.
Furthermore, the Property and Casualty market is expected to increase from $2 trillion this year to <a href="https://www.polarismarketresearch.com/industry-analysis/property-and-casualty-insurance-market">$3.79 trillion by 2032</a>, with an average annual growth rate of 8.3%. Investors' interest in insurance stocks is evident from SPDR S&amp;P Insurance ETF's (<a href="https://stocknews.com/stock/KIE/">KIE</a>) 24.1% returns over the past year.
Considering this favorable backdrop, let's assess the fundamentals of the three insurance stocks.
The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>)
ALL and its subsidiaries provide property, casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other segments.
ALL's revenue has grown at a CAGR of 9.6% over the past three years and 7.4% over the past five years.
In terms of the trailing-12-month Return on Total Assets, ALL's 1.28% is 20.4% higher than the 1.07% industry average. Likewise, its 0.57x trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a> is 165.3% higher than the 0.22x industry average.
ALL's consolidated net revenues for the first quarter ended March 31, 2024, increased 10.7% year-over-year to $15.26 billion. The company's adjusted net income amounted to $1.37 billion and $5.13 per share, compared to an adjusted net loss of $342 million and $1.30 per share in the year-ago quarter, respectively. Furthermore, its book value per common share rose 6.2% year-over-year to $62.27.
Analysts expect ALL's revenue for the quarter ending June 30, 2024, to increase 9.4% year-over-year to $15.29 billion. Its EPS for the quarter ending September 30, 2024, is expected to increase 271.2% year-over-year to $3.01. It surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past year, the stock has gained 46.8% to close the last trading session at $159.49. Its 24-month beta is 0.27.
ALL's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #8 out of 56 stocks in the B-rated <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance - Property &amp; Casualty</a> industry. It has an A grade for Momentum and a B for Growth and Stability. To see ALL's Value, Sentiment, and Quality ratings, <a href="https://stocknews.com/stock/ALL/">click here</a>.
The Hartford Financial Services Group, Inc. (<a href="https://stocknews.com/stock/HIG/">HIG</a>)
HIG and its subsidiaries provide insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. It operates in five segments: Allstate Protection segment, Protection Services segment, Allstate Health and Benefits segment, Run-off Property-Liability segment, and Corporate and Other segments.
HIG's EBIT grew at a CAGR of 14.2% over the past three years. Also, its levered FCF grew at a CAGR of 21% over the past three years.
In terms of the trailing-12-month levered FCF, HIG's 20.56% is 17.5% higher than the 17.50% industry average. Similarly, its 18.54% trailing-12-month Return on Common Equity is 74.7% higher than the 10.61% industry average. Also, its 3.50x trailing-12-month asset turnover ratio is 228.7% higher than the 1.07% industry average.
HIG's total revenues for the first quarter ended March 31, 2024, increased 8.6% year-over-year to $6.42 billion. For the same quarter, its core earnings stood at $709 million and $2.34 per share, up 32.3% and 39.3% from the year-ago values, respectively. Additionally, the company's book value per share rose 10.3% over the prior-year quarter to $60.18.
For the quarter ending June 30, 2024, HIG's EPS and revenue are expected to increase 23.3% and 8.5% year-over-year to $2.32 and $6.56 billion, respectively. HIG surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past year, the stock has gained 40.8% to close the last trading session at $100.56. Its 24-month beta is 0.56.
HIG's solid prospects are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Momentum and a B for Growth and Stability. Within the Insurance – Property &amp; Casualty industry, it is ranked #21. Beyond the grades mentioned above, we have also rated HIG for Value, Sentiment, and Quality. Get all ratings <a href="https://stocknews.com/stock/HIG/">here</a>.
Brown &amp; Brown, Inc. (<a href="https://stocknews.com/stock/BRO/">BRO</a>)
BRO markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services.
On June 10, 2024, BRO announced the acquisition of T Oscar Rollins &amp; Company Ltd, trading as Rollins Insurance Brokers. Rollins will become part of BRO's Northern Ireland business, ABL Group, with its team, including managing director Dermot Rollins, continuing under new ownership.
On June 7, 2024, BRO announced the acquisition of the assets of McNamara Company, a family-owned insurance agency. The McNamara team will join BRO's Phoenix office, enhancing their commercial and personal insurance services.
BRO's net income grew at a CAGR of 20.7% over the past three years. Also, its revenue grew at a CAGR of 16.7% over the past three years.
In terms of the trailing-12-month Return on Total Capital, BRO's 8.20% is 19.9% higher than the 6.84% industry average. Likewise, its 6.26% trailing-12-month Return on Total Assets is 487.8% higher than the industry average of 1.07%. In addition, its 28.61% trailing-12-month EBIT margin is 22% higher than the industry average of 23.45%.
BRO's total revenues for the fiscal first quarter ended March 31, 2024, amounted to $1.26 billion, up 12.7% year-over-year. Its adjusted EBITDAC grew 17.1% year-over-year to $466 million. Its net income rose 24.2% over the previous year's quarter to $293 million. In addition, its adjusted net income per share increased 18.8% year-over-year to $1.14.
Street expects BRO's EPS for the quarter ending June 30, 2024, to increase 27.4% year-over-year to $0.87. Its revenue for the same quarter is expected to increase 9.6% year-over-year to $1.15 billion. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 34.2% to close the last trading session at $89.70. Its 24-month beta is 0.67.
BRO's POWR Ratings reflect its positive outlook. Within the <a href="https://stocknews.com/category/insurance-brokers/">Insurance - Brokers</a> industry, it is ranked #first out of 13 stocks. It has an A grade for Momentum and a B for Growth, Stability, and Quality. <a href="https://stocknews.com/stock/BRO/">Click here</a> to see BRO's Value and Sentiment ratings.
What To Do Next?
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<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>
&nbsp;

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ALL shares were trading at $159.72 per share on Friday afternoon, down $0.29 (-0.18%). Year-to-date, ALL has gained 15.41%, versus a 15.66% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/all-hig-bro-3-insurance-stocks-offering-stability-and-growth/>3 Insurance Stocks Offering Stability and Growth</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>


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