best insurance stock - Allstate insurance Stock outlook 2013-2014, Allstate stock surgical operation 2013 ; Shares of Allstate unopen at $42.93 Monday, trading for 9.5 times the consensus 2013 earnings per part approximate of $4.53. The consensus 2014 EPS approximate is $4.88.
The shares returned l per centum during 2012.Based on a quarterly payout of 22 cents, the shares accept a dividend yield of 2.05 percent.
Allstate announced on Nov. 28 estimated that its losses for October, internet of reinsurance, totaled $1.1 billion earlier taxes. The companionship said that "autos correspond some twoscore per centum of the full gross losses, alongside 78 per centum inward New York, xix per centum inward New Bailiwick of Jersey as well as 3 per centum inward other states."
For its property-liability unit, Allstate reported underwriting income of $1.316 billion for the outset iii quarters of 2012. During 2011, the unit of measurement had an underwriting loss of $874 million.
The companionship volition denote its fourth-quarter results on Feb. 7, alongside analysts expecting a loss of seven cents a share, compared to a turn a profit of $1.46 a part the previous quarter, as well as earnings per part of $1.48 during the 4th quarter of 2011.
Allstate on Dec. 17 announced that its board of directors had "approved a part repurchase plan of upward to $1 billion to endure funded past times issuing a similar total of subordinated debentures," later on its previous buyback plan was completed.
Following the company's announcement, Credit Suisse analyst Michael Zaremski reiterated his "outperform" rating for Allstate, alongside a $42 cost target, proverb he expected the company's board of directors to approve an additional $1 billion worth of stock (equal to v per centum of shares outstanding at today's stock cost [on Dec. 1]) via the issuance of a similar total of hybrid debt." Zaremski estimates that Allstate volition earn $4.35 a part inward 2013 alongside earnings per part rise to $4.72 inward 2014.
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