最新ニュース Allstate (NYSE:ALL) 株価情報

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Allstate is one of the largest us property-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 6,000 exclusive agents.

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The Allstate Corporation (NYSE:ALL) の株は、同社が雇用者任意給付事業をStanCorp Financial Group, Inc. に慣例的な条件と承認を条件に200億ドルで売却する確定取引が成立したことで上昇しています。

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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 $205 to $207.

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JP Morgan Maintains Overweight on Allstate, Raises Price Target to $207

B of A Securities analyst Joshua Shanker maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Buy and lowers the price target from $226 to $216.

B of A Securities Maintains Buy on Allstate, Lowers Price Target to $216

Jefferies analyst Yaron Kinar maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Buy and raises the price target from $217 to $231.

Jefferies Maintains Buy on Allstate, Raises Price Target to $231

Insurance, regional banks, fitness centers, utilities, hospitals and theme parks are among the sectors that could be negatively impacted when Hurricane Milton hits Florida Wednesday night or <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">early </a><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Thursday </a><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">morning.</a>
Here's a look at some of the sectors and stocks that investors should be watching with Hurricane Milton on the way.
Hurricane Milton Update: According <a href="https://www.nbcnews.com/news/weather/map-hurricane-milton-path-forecast-status-track-rcna174203">to </a>NBC News, <a href="https://www.benzinga.com/topic/hurricane-milton">Hurricane Milton was downgraded </a>to a Category 4 storm on Wednesday morning. The hurricane is expected to make landfall Wednesday night and could hit some of Florida&#8217;s most populous areas, including the Tampa Bay area.
Evacuation orders are in place for multiple Florida counties with government officials warning that failure to follow the orders could lead to casualties.
With evacuations taking place, Florida service stations are running out of gas, and there are concerns about charging electric vehicles on evacuation routes.
The constant changes in the storm's path could have a major effect on the damage and potential casualties. A landfall in the Tampa Bay area is seen as the worst-case scenario for the hurricane, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-09-24/index.html" target="_blank" rel="noopener">CNN</a>.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">Hurricane Milton Evacuations &#8216;A Matter Of Life And Death,&#8217; Biden Says: Fed&#8217;s Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months</a>
Regional Banks: DA Davidson analyst Gary Tenner looked at the regional banks that could be most impacted by Hurricane Milton in a new investor note.
"Based on experience, we would expect the banks in the market to be impacted in multiple ways in the post-hurricane period, including a potential deposit boost related to insurance settlements, elevated near term expenses and provision, with lending opportunities related to rebuilding efforts,&#8221; Tenner said.
The analyst said banks in the Tampa and St. Petersburg areas could see near-term increased expenses but could see "positive offsets over the longer term."
Based on market share in the region, Tenner highlights the following regional banks:
<ul>
<li>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>): Buy rating</li>
<li>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>): Neutral rating</li>
<li>Synovus Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>): Buy rating</li>
<li>SouthState Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>): Buy rating</li>
<li>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>): Buy rating</li>
<li>Hancock Whitney Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>): Buy rating</li>
</ul>
Hospitals Impact: Hospital operators in the Florida region could be negatively impacted by Hurricane Milton and face IV shortages, RBC analyst Ben Hendrix said in a new investor note.
"Hospital operators traded slightly lower on Thursday, which we believe reflects at least in part weather-related concerns as Hurricane Milton moves toward Florida's west coast," Hendrix said.
The analyst said hospitals could see "some disruptions to facilities" in the coming days.
RBC highlights the following hospitals in the report:
<ul>
<li>Community Health Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>): Outperform rating</li>
<li>HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>): Outperform rating</li>
<li>Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>): Outperform rating</li>
<li>Universal Health Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>): Sector Perform rating</li>
</ul>
"We believe HCA may be spared the worst of the storm damage with most of its hospital concentration in Central Florida located in the Tampa Bay area, which is north of the expected Sarasota landfall," Hendrix said.
Utilities Impact: Hurricane Milton could have a negative impact on utility stocks, Scotiabank analyst Andrew Weisel warned investors in a new note.
"While we remain bullish on U.S. utility fundamentals and valuations, we're growing somewhat cautious about investor sentiment, which had finally started to turn positive after years of negativity or indifference," Weisel said.
The analyst said they generally caution against trading around storms like Hurricane Milton.
"Rising hurricane activity is no doubt worrisome."
Weisel said the utility sector has several catalysts like rate cuts and the 2024 election, aside from the hurricane impact.
Top utility picks from Weisel are CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) and DTE Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTE#NYSE">DTE</a>). After these three top picks, the analyst highlights Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) and American Electric Power Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) as other favorable utility names. 
Weisel also said he would buy Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) because of its weakness ahead of Hurricane Milton.
"While outages often lead to lost revenues, slightly weighing on near-term earnings, the impacts are generally very modest," Weisel said.
Another major utility that could be impacted by Hurricane Milton is Tampa Electric, owned by Emera Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMRAF#OTC">EMRAF</a>). Serving the Tampa Bay area, Tampa Electric is particularly vulnerable to the storm&#8217;s effects.
Insurance Stocks: The insurance sector is one of the sectors most on watch for the damaging impact and cleanup aftermath from Hurricane Milton.
Insurance stocks like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) are among the large insurers that could be impacted.
RBC analyst Derald Goh, who covers European insurance stocks, shared a note on the potential damage from the hurricane.
"A potential $60bn industry loss from Hurricane Milton appears very manageable for a sector that is keen to demonstrate stronger earnings resiliency and should drive a re-rating," Goh said.
The $60 billion estimate comes as Hurricane Milton is expected to cause destruction similar to that caused by Hurricane Ian in 2022. Based on the estimated damage from that storm, the analyst considers this estimate the most reliable method for predicting the impact on insurance companies.
Goh said five hurricanes have made landfall in the U.S. this season, and the previous average forecast was 12.
Leisure Sector: Hurricane Milton could also impact theme parks, with the state of Florida home to Disney World, owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), and Universal Studios Orlando, owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Disney announced it is <a href="https://www.benzinga.com/markets/equities/24/10/41245886/disney-world-closes-early-as-hurricane-milton-approaches-florida-parks-brace-for-impact">closing Disney World parks early </a>on Wednesday and transportation services could remain limited, with a plan to re-open on Thursday. The storm may have scared away a large amount of tourists. Goldman Sachs recently said Disney could see a<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac"> $150 million to $200 million</a> negative impact from Hurricane Milton.
Morgan Stanley analyst Megan Alexander sees Hurricane Milton having a negative impact on fitness centers Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) and Life Time Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) and indoor golf facility company Topgolf Callaway Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MODG#NYSE">MODG</a>).
"Overall, PLNT appears to be the most exposed across our coverage particularly given the concentration of corporate locations in the state," Alexander said.
The analyst, who has an Overweight rating and a $84 price target on Planet Fitness, said Florida represents around 25% of corporate-owned locations. Store closures could negatively impact new membership additions, but Alexander added that the monthly membership fee revenue model could insulate the company from a negative impact.
The analyst sees Life Time Group, rated Equal Weight with a $21 price target, having a minimal impact with only five locations in Florida, which is less than 3% of total locations.
Alexander said Topgolf has nine locations in Florida, with five currently closed due to Hurricane Milton. The analyst, who has an Underweight rating and a $10 price target on the stock, said Topgolf will likely see a minimal impact unless locations have severe storm damage and have to be closed for an extended time period.  
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Hurricane Milton Dire Warning: &#8216;If You Choose To Stay &#8230; You&#8217;re Going To Die,&#8217; Officials Encourage Writing Name On Arm In Permanent Marker For ID</a></li>
</ul>
Image of Hurricane Milton courtesy of NASA.

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Hurricane Milton Descends On Florida: Analysts Warn Of Impact On Disney, NextEra's Florida Power & Light, Regional Banks

Evercore ISI Group analyst Oliver Wintermantel maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a In-Line and raises the price target from $191 to $195.

Evercore ISI Group Maintains In-Line on Allstate, Raises Price Target to $195

Insurance companies operating in Florida face significant challenges following two intense hurricanes: <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Helene and Milton</a>. 
What Happened: After Hurricane Helene, losses for private insurers were <a href="https://www.wusf.org/weather/2024-09-25/helene-could-cause-billions-in-private-federal-insurance-losses">estimated</a> at $3 to $6 billion. Hurricane Milton, expected to make landfall Wednesday on Florida's Gulf Coast near Tampa, is adding further strain to Florida&#8217;s insurance market.
High claim volumes, rising premiums and an exodus of insurers already slammed customers. With Hurricane Milton looming, the market could experience further destabilization.
The average annual premium for homeowners' insurance in Florida has surged to $10,996, making it the highest in the nation. 
Insurify <a href="https://insurify.com/homeowners-insurance/report/home-insurance-price-projections/">projects</a> that this number will rise by an additional 7% in 2024, bringing the average to $11,759. This figure is nearly four times the national average, driven by multiple factors including the increased frequency and severity of hurricanes, rising costs of building materials, and issues with reinsurance. 
Florida has also seen a significant number of insurance companies pull out of the state, further exacerbating the situation​.
See Also: <a href="https://www.benzinga.com/news/24/09/41082452/hurricane-helene-exposes-vulnerability-of-floridas-home-insurance-market">Hurricane Helene Exposes Vulnerability Of Florida&#8217;s Home Insurance Market</a>
Stocks To Watch: The <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">ongoing hurricane activity in Florida</a> is expected to impact several major publicly traded insurance companies.
Key insurers facing challenges include: 
<ul>
<li>Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) </li>
<li>Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) </li>
<li>Progressive Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) </li>
<li>State Farm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STFGX#NASDAQ">STFGX</a>) </li>
</ul>
Citizens Property Insurance Corp. covers more than 1.4 million policies but with much higher premiums, averaging $21,707 annually​. Dubbed Florida's insurer of last resort, the company is transferring more than 648,000 policies to private insurers, per <a href="https://www.clickorlando.com/news/local/2024/10/04/what-citizens-insurance-depopulation-means-for-florida-homeowners/">Click Orlando</a>.
These companies are experiencing heavy financial strain due to increased claims, which will likely lead to higher premiums and reduced coverage availability. Smaller, regional insurers operating in Florida may also face insolvency or further pressure to exit the market.
Why It Matters: According <a href="https://www.insurancebusinessmag.com/us/news/property/florida-insurers-deny-nearly-half-of-hurricane-claims-ratings-agency-says-508765.aspx">to</a> Insurance Business Magazine, citing Weiss Ratings data, several large Florida insurers denied nearly half of homeowner claims closed in 2023. 
Among these carriers were:
<ul>
<li>Castle Key Indemnity Co., denied 47.1% of claims</li>
<li>Castle Key Insurance Company, at 46%.</li>
<li>State Farm Florida Insurance Company, denied 46.4% </li>
</ul>
Coverage is often denied to conserve cash and avoid bankruptcy.
How We Got Here: While it&#8217;s difficult to attribute any single hurricane directly to climate change, many scientists say that climate change exacerbates the frequency of extreme weather events.
Warmer ocean temperatures, fueled by global warming, provide more energy for storms, making hurricanes such as Helene and Milton more intense.
Rising sea levels also contribute to more severe storm surges. Additionally, changing weather patterns may cause slower-moving storms, leading to more rainfall and prolonged damage in affected areas. Overall, climate change plays a role in the increasing severity of storms.
Florida Gov. Ron DeSantis <a href="https://www.flgov.com/2024/10/08/governor-ron-desantis-issues-updates-on-state-preparedness-efforts-for-hurricane-milton-3/">declared </a>a state of emergency for 51 Florida counties. So far, he has generally avoided directly linking the increasing intensity of hurricanes in <a href="https://www.benzinga.com/topic/climate-change">Florida to climate change</a>.
Now Read:
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41236355/stocks-rally-as-oil-prices-tumble-tech-chipmakers-lead-as-traders-focus-on-ai-winners-before-earnin">Stocks Rally As Oil Prices Tumble; Tech, Chipmakers Lead As Traders Focus On AI Winners Before Earnings Season: What&#8217;s Driving Markets Tuesday?</a></li>
</ul>
Photo: Massive destruction on Fort Myers Beach after Hurricane Ian, 2022, by Felix Mizioznikov via Shutterstock

STFGX

Back-To-Back Hurricanes Batter Florida's Insurance Market: Stocks To Watch

Hurricane Milton is nearing the west coast of Florida and bringing a second powerful storm to the state <a href="https://www.benzinga.com/news/24/09/41073069/hurricane-helene-update-28-dead-power-outages-insurance-damages-and-more">within two weeks.</a>
Here's the latest update on the storm, expected to make landfall in the U.S. on Wednesday night.
What Happened: <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Hurricane Milton reached</a> Category 5 status Monday with winds of 180 miles per hour, making the storm one of the strongest in the world in 2024.
The hurricane was downgraded to a Category 4 storm on Tuesday, but could be elevated to Category 5 status once again Tuesday late or on Wednesday.  
"I was just briefed by members of my team who are driving our preparations for Hurricane Milton and recovery efforts for Hurricane Helene," President Joe Biden <a href="https://x.com/POTUS/status/1843709155141452221">tweeted</a>. "I directed this group to do everything we can to save lives and help communities before, during, and after these extreme weather events."
Biden said there are thousands of federal personnel on the ground in the Southeast to help deliver resources as fast as possible.
"My priority is to increase the size and presence of our effort as we prepare for another potentially catastrophic storm making landfall in Florida."
Tampa Mayor Jane Castor cautioned against the spreading of false statements and rumors about government and the state of Florida not working together causing a shortage or response resources, as <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-08-24/index.html">reported </a>by CNN.
"That could not be further from the truth," Castor said.
Castor said she spoke with Biden about preparations on Monday night. The mayor also spoke with FEMA Administrator Deanne Criswell.
"They are working to get us all the resources we need."
Read Also: <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Hurricane Milton Dire Warning: &#8216;If You Choose To Stay &#8230; You&#8217;re Going To Die,&#8217; Officials Encourage Writing Name On Arm In Permanent Marker For ID</a>
Economic Impact: Hurricane Milton could have a severe impact on the insurance sector, especially with back-to-back hurricanes hitting Florida in a short period.
Insurance stocks like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Progressive Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) and Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) could all be volatile as the financial impact of the hurricane becomes clear.
While insurance and other sectors could get hit, Federal Open Market Committee member Raphael Bostic, who is the president of the Federal Reserve Bank of Atlanta, <a href="https://www.atlantafed.org/news/press-room/media-advisories/2024/10/08/bostic-remarks-atlanta-consular-corps">said </a>the storm could have a big impact on the overall U.S. economy over the next three to six months.
Bostic said changes in storms, like Hurricane Helene and Hurricane Milton, can impact the supply and demand of housing in different cities. Bostic also said the frequency of impactful hurricanes can hit markets like insurance and food commodities.
Financial firms need to recognize how hurricanes and other catastrophic events change their risks, Bostic added.
Jefferies analyst Yaron Kinar called Hurricane Milton a potential "1-in-100 year event" that could cause damage of over $50 billion and the potential to have a $175 billion impact in a worst-case scenario, as <a href="https://www.cnbc.com/2024/10/08/hurricane-milton-could-cause-as-much-as-175-billion-in-damages-according-to-early-estimates.html">reported </a>by CNBC.
Kinder Morgan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) shut down its Central Florida pipeline system, according to a report from Reuters. The pipeline system delivers gasoline and diesel from Tampa to Orlando. Citgo also shut down a terminal in Tampa ahead of the storm.
Theme parks in Florida remain on watch with Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)-owned Disney World and Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)-owned Universal Orlando remaining open under normal conditions as of the time of writing, as <a href="https://apnews.com/live/hurricane-milton-florida-tracker-updates">reported </a>by the Associated Press. A Goldman Sachs analyst said Tuesday that the hurricane could have a <a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac">$150 million to $200 million </a>negative impact on Disney.
Evacuation Orders: Of the five most populous Florida cities (Jacksonville, Miami, Tampa, Orlando, St. Petersburg), four are located in counties that have evacuation orders in place, with only Jacksonville not on the list. With these highly populated regions and numerous counties on the list, Hurricane Milton is driving the most evacuations in the state since 2017.
Government officials have stressed the importance of evacuations in mandatory areas, with Tampa's mayor saying that failure to evacuate could lead to death.
Biden echoed that sentiment in a tweet.
"I urge everyone in Hurricane Milton's path to listen to local officials and follow all safety instructions. If you are under evacuation orders you should evacuate now while it is still safe to do so. It is a matter of life and death," Biden <a href="https://x.com/POTUS/status/1843696607981670523">tweeted</a>.
The Associated Press said Wednesday that around 5.9 million people are impacted by the 11 counties under mandatory evacuations based on estimates from the U.S. Census Bureau.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41145534/hurricane-helene-adds-to-most-active-quarter-for-power-outages-driving-back-up-gene">Hurricane Helene Adds To &#8216;Most Active Quarter&#8217; For Power Outages, Driving Back-Up Generator Demand</a></li>
</ul>
Photo: Shutterstock

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Hurricane Milton Evacuations 'A Matter Of Life And Death,' Biden Says: Fed's Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months

The second Category 5 storm of the 2024 <a href="https://www.benzinga.com/markets/24/10/41215820/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companies-co">hurricane season named Hurricane Milton </a>is threatening large-scale destruction, as it quickly graduated from Category 1 status and is approaching the state of Florida. The storm is expected to lash over the Tampa Bay on Wednesday.
Milton Vs. Previous Hurricanes: Hurricane Milton gathered maximum sustained wind speeds of 180 miles per hour by Monday night, and in terms of wind speed it only trails a 1980 hurricane, which went by the name Allen and boasted a top wind speed of 190 mph before it made landfall in the U.S.-Mexican border,<a href="https://www.nytimes.com/2024/10/07/weather/hurricane-milton-forecast-path.html"> said</a> New York Times.
Going by pressure &#8211; which is another measure of a storm&#8217;s intensity, Milton is similar to Hurricane Wilma from the 2005 hurricane season that holds the record for the lowest pressure, the Times said.
The latest<a href="https://www.nhc.noaa.gov/text/refresh/MIATCPAT4+shtml/080541.shtml"> update</a> issued by the National Hurricane Center early Tuesday showed Milton weakening to a Category 4 storm with wind speed slowing to 155 mph. The hurricane was moving east at 9 mph and was located 585 miles southwest of Tampa.
Milton is expected to regain Category 5 strength Tuesday morning and maintain this strength through the day, CNN&#8217;s <a href="https://edition.cnn.com/weather/live-news/hurricane-milton-florida-10-08-24/index.html">update </a>showed. It would then fluctuate in intensity before making landfall on Wednesday as a Category 3 storm.
Certified Consulting Meteorologist and NBC 6 South Florida John Morales, while on air, was overwhelmed with emotion as he described the hurricane. &#8220;It&#8217;s just an incredible, incredible, incredible hurricane. It has dropped 50 millibars in 10 hours,&#8221; he said before pausing to suppress his emotion. &#8220;I apologize. This is just horrific,&#8221; he said. Sharing a video clip of this, CNN media analyst Brian Stelter said, &#8220;NBC6&#8217;s @JohnMoralesTV is the longest-tenured TV meteorologist in South Florida. When he gets this serious, this emotional, on the air, viewers pay attention.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">NBC6&#39;s <a href="https://twitter.com/JohnMoralesTV?ref_src=twsrc%5Etfw">@JohnMoralesTV</a> is the longest tenured TV meteorologist in south Florida. When he gets this serious, this emotional, on the air, viewers pay attention: <a href="https://t.co/iiECZ8KaHx">pic.twitter.com/iiECZ8KaHx</a>
&mdash; Brian Stelter (@brianstelter) <a href="https://twitter.com/brianstelter/status/1843362454321115138?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">See Also: <a href="https://www.benzinga.com/money/best-insurance-stocks">Best Insurance Stocks</a></figcaption></figure>
Florida&#8217;s Preparedness: The Sunshine State is on full alert with multiple teams coordinating to prepare ahead of Milton&#8217;s landfall. At a Monday briefing, Florida&#8217;s emergency management director, Kevin Guthrie called out to people to be prepared, ABC News <a href="https://abcnews.go.com/US/wireStory/ahead-hurricane-strike-floridians-plan-supply-kit-heed-114571554">said.</a> &#8220;If they have called an evacuation order, I beg you, I implore you to evacuate,&#8221; he reportedly said.
Jaime Hernandez, the emergency management director in Hollywood, Florida, reportedly asked people to be ready with a plan taking into account the changing forecasts, have an emergency kit and stay informed,
Writing on X, formerly Twitter, Florida Governor Ron DeSantis said, &#8220;Evacuations are underway, and we have suspended tolls and opened roadway shoulders to make it easier for Floridians to get to safety.&#8221; He directed people to take evacuate to pet-friendly shelters, special needs shelters, and other options that are safe from storm surges in their own counties.
Stocks To Keep Eye On: 
Insurers: Property and casualty insurance stocks have been under pressure since <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41145534/hurricane-helene-adds-to-most-active-quarter-for-power-outages-driving-back-up-gene">Hurricane Helene </a>that impacted Southeastern U.S. and they fell on Monday amid news concerning Milton. These stocks could be once again on the radar in Tuesday&#8217;s session. These include:
<ul>
<li>Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>)</li>
<li>Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>)</li>
<li>Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>)</li>
<li>Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>)</li>
<li>Hartford Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>)</li>
<li>Markel Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKL#NYSE">MKL</a>)</li>
<li>Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>)</li>
</ul>
The steepest losses were recorded by Florida-based insurers such as Heritage Insurance Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) (down over 23%, American Coastal Insurance Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acic#NASDAQ">ACIC</a>) (down over 15%), and HCI Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCI#NYSE">HCI</a>) (down over 17%).
Given the 2024 hurricane season has been very active, insurers would be left saddled with catastrophe-related claims, which will weigh down on their margins and bottom line.
Phosphate Miners: Phosphate mining stocks such as Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) could be on the radar during a natural disaster. Florida&#8217;s phosphate industry is one of the major suppliers of the mineral internationally, and the U.S. ranks third in terms of phosphate production, after China and Morocco. In the U.S., phosphate mining takes place in Florida, North Carolina, Idaho and Utah, <a href="https://fipr.floridapoly.edu/about-us/phosphate-primer/other-phosphate-deposits.php#:~:text=Currently%20U.S.%20phosphate%20mining%20takes,it%20was%20not%20economically%20practical.">according</a> to the Florida Industrial and Phosphate Research Institute, FIPRI.
The phosphate mineral is a source of phosphorous, a key nutrient for plant growth.
Florida's phosphate is part of a deposit that stretches across the state and up the coast to the Chesapeake Bay.&nbsp;
Florida Phosphate Council <a href="https://floridaphosphate.com/our-industry/">states</a> that the phosphate industry in the state is a major economic driver and supports nearly 8,400 direct jobs. The industry accounts for an estimated $5.03 billion in annual economic output.
Josh Linville, Director of Fertilizer at integrated trading platform StoneX, said the phosphate market could be hurt. In an X post, he said, &#8220;FL is built to withstand hurricanes&#8230;to an extent. This looks bad. This looks really bad,&#8221; he said.
Even if production facilities withstand major damage, they need workers to run the plants, he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/phosphate?src=hash&amp;ref_src=twsrc%5Etfw">#phosphate</a> market, this could hurt. FL is built to withstand hurricanes&#8230;to an extent. This looks bad. This looks really bad. Even if production facilities do not withstand major damage, they need workers to run the plants&#8230;and homesteads may not fare as well. <a href="https://t.co/Qyutb60L95">pic.twitter.com/Qyutb60L95</a>
&mdash; Josh Linville (@JLinvilleFert) <a href="https://twitter.com/JLinvilleFert/status/1843302894009036810?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Alico, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALCO#NASDAQ">ALCO</a>), which is a Florida-based agribusiness and land management company, also saw its shares sink over 8% on Monday. This stock was <a href="https://cupofcoffeecapital.substack.com/p/trade-idea-alert">flagged </a>by a substack writer who issues trading alerts. 
Potential Beneficiaries: Shares of Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>), a manufacturer of generators, soared on Monday, potentially due to surging demand for its products in the aftermath of the hurricane.
Batteries are also in great demand during hurricanes, with household battery manufacturers such as Energizer Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENR#NYSE">ENR</a>) reaping windfall.
Once the hurricane subsides and life returns to normalcy, the havoc caused by it can stimulate reconstruction demand, with home-improvement retailers 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>) among the potential beneficiaries.
Building products and equipment companies such as Masco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>) and used-car retailers such as Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) and Carmax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) also stand to gain.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41216625/generac-stock-powers-up-ahead-of-hurricane-milton">Generac Stock Powers Up Ahead Of Hurricane Milton</a></li>
</ul>
Photo via Shutterstock

Small Cap

Media

ACIC

ALCO

CVNA

GNRC

HRTG

As Florida Prepares For One Of Deadliest Hurricanes, Here Are Some Potential Stock Winners And Losers From Milton Threat

WIIM

Allstate shares are trading lower amid uncertainty in the insurance sector due to Hurricane Helene.

Florida is bracing for another hurricane to make landfall this week, less than two weeks after <a href="https://www.benzinga.com/news/24/09/41073069/hurricane-helene-update-28-dead-power-outages-insurance-damages-and-more">Hurricane Helene.</a>
Here's a look at the forecast and stocks to watch.
Hurricane Milton Intensifies: Less than two weeks after Hurricane Helene hit Florida, Hurricane Milton is intensifying into a potential Category 4 or Category 5 storm, <a href="https://www.benzinga.com/news/24/10/41198558/after-helene-florida-gears-up-for-another-devastating-hurricane">set to make landfall</a> in the state on Wednesday.
CNN <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-07-2024/index.html">reported </a>that the storm has grown in size and is now considered a Category 3 hurricane. According to the report, the storm's growing size could affect a larger area of Florida than the last hurricane.
Milton is expected to hit the Gulf Coast of Florida, with the state already declaring a state of emergency and working on evacuations. Hillsborough County, which includes Tampa, is among the areas expected to call for evacuations Monday.
Several school districts in the state closed school Monday.
Florida Division of Emergency Management director Kevin Guthrie said Sunday the storm could result in the state's largest evacuation since 2017.
"I urge Floridians to finalize your storm preparations now, enact your plan," Guthrie said Sunday.
Florida Gov. Ron DeSantis cautioned residents on the potential for more power outages in the state than with Helene.
The timing of Milton could create a double whammy for the state of Florida and surrounding regions that are still recovering from Helene. 
"You get hit with a major hurricane, what's going to happen to that debris? It's going to increase the damage dramatically," DeSantis said. 
The existing and additional debris could also make pathways tough for emergency personnel.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41145534/hurricane-helene-adds-to-most-active-quarter-for-power-outages-driving-back-up-gene">Hurricane Helene Adds To &#8216;Most Active Quarter&#8217; For Power Outages, Driving Back-Up Generator Demand</a>
Stocks to Watch: While Florida theme parks mostly avoided closures from Helene, the newest hurricane in the region could significantly impact the sector.
Orange County, home to Orlando, is one of the counties in a state of emergency ahead of Hurricane Milton&#8217;s landfall.
Walt Disney World, owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), is among the theme parks that could face closures due to weather, missed revenue opportunities, and refunds. The theme park is open Monday but, as of Sunday, had shut down the ability to make reservations for Tuesday and Wednesday, as <a href="https://www.floridatoday.com/story/news/2024/10/07/hurricane-milton-disney-orlando-florida-theme-parks-universal-busch/75543794007/">reported </a>by Florida Today.
Disney World has closed for several hurricanes in the past, most recently for Hurricane Ian in 2022. The theme park was able to escape Helene with minimal impact on some outdoor activities and night entertainment events that were canceled.
Universal Studios in Orlando, which is owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), could also face closures and cancellations due to the storm's current path.
Power companies like Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) and Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) are among utilities that could see large numbers of customer outages. The companies could face increased labor costs and additional costs to repair infrastructure after the storm.
While theme park stocks could see a negative impact from Hurricane Milton, several other stocks and sectors could benefit from the storm and the pending damage.
Home improvement retailers like Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) traditionally gain from hurricane restoration efforts. With the potential for increased damage due to the back-to-back hurricanes, home improvement retailers could see a surge in demand in the regions hit by the storm.
Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) is another company that could benefit from the hurricanes as demand for generators increases. On Monday, Generac shares hit new 52-week highs in anticipation of Hurricane Milton.
One sector facing uncertainty is insurance, as severe damage from the hurricane could hurt profits, but a weaker impact could boost earnings with fewer claims. Companies like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are among the publicly traded companies that could be impacted by insurance claims from the hurricane.
When Hurricane Helene initially struck, insurance companies expected minimal impact. However, as damage estimates rise, concerns grow. After a relatively mild hurricane season, the successive blows from Helene and Milton could pose challenges for insurers offering home, hurricane, and flood coverage.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41195370/elon-musk-said-his-blood-was-boiling-after-fema-allegedly-didnt-allow-spacex-engineers-to-deliver-st">Elon Musk Said His Blood Was &#8216;Boiling&#8217; After FEMA Allegedly Didn&#8217;t Allow SpaceX Engineers To Deliver Starlink Terminals And Supplies To Hurricane Helene Victims, But Now They&#8217;ve Received Approval</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Hurricane Milton Is Florida's Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted

16 analysts have shared their evaluations of Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<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;">6</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</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>
<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;">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;">4</td>
<td style="text-align: right;">2</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;">2</td>
<td style="text-align: right;">3</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>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $200.5, a high estimate of $226.00, and a low estimate of $175.00. This upward trend is evident, with the current average reflecting a 1.78% increase from the previous average price target of $197.00.
<img src="https://www.benzinga.com/files/images/story/2024/1728065098_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The analysis of recent analyst actions sheds light on the perception of Allstate by financial experts. The following summary presents 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>C. Gregory Peters</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Strong Buy</td>
<td>$220.00</td>
<td>$205.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Announces</td>
<td>Underweight</td>
<td>$175.00</td>
<td>-</td>
</tr>
<tr>
<td>Andrew Kligerman</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$224.00</td>
<td>$193.00</td>
</tr>
<tr>
<td>Paul Newsome</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$196.00</td>
<td>$188.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$208.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$175.00</td>
<td>$177.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$204.00</td>
<td>$199.00</td>
</tr>
<tr>
<td>Harry Fong</td>
<td>Roth MKM</td>
<td>Maintains</td>
<td>Buy</td>
<td>$200.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$208.00</td>
<td>$199.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$177.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$205.00</td>
<td>$191.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$226.00</td>
<td>$213.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$199.00</td>
<td>$197.00</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$191.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$193.00</td>
</tr>
<tr>
<td>Michael Phillips</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$205.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Allstate. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Allstate compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Allstate's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Allstate's market position. Stay informed and make well-informed decisions with 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>About Allstate</h2>
Allstate is one of the largest us property-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 6,000 exclusive agents.
<h3>A Deep Dive into Allstate's Financials</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Over the 3 months period, Allstate showcased positive performance, achieving a revenue growth rate of 12.41% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher 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 1.92%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Allstate's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.81%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Allstate's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.28%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Allstate's debt-to-equity ratio surpasses industry norms, standing at 0.49. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

16 Analysts Assess Allstate: What You Need To Know

Raymond James analyst C. Gregory Peters maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Strong Buy and raises the price target from $205 to $220.

Raymond James Maintains Strong Buy on Allstate, Raises Price Target to $220

Hurricane Helene&#8217;s devastation claimed the lives of more than 130 people and left nearly 800,000 without power, according to the latest figures. The storm, which <a href="https://www.benzinga.com/news/24/09/41073069/hurricane-helene-update-28-dead-power-outages-insurance-damages-and-more">made landfall on September 26</a>, tore through the Florida Panhandle, Georgia and North and South Carolina.
New Developments: Bloomberg <a href="https://www.bloomberg.com/en/news/thp/2024-10-01/biden-plans-survey-of-devastation-in-north-carolina-as-helene-s-death-toll-tops-130">reported</a> that the Hurricane Helene death toll reached 139 on Tuesday.
Duke Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), the largest utility provider in North Carolina and South Carolina, reported over two million customers experienced an electricity outage. On Monday, the Charlotte-based provider announced it had restored power to 1,350,000 customers without power.
About 443,000 customers in South Carolina remained without power; a slightly smaller 346,000 customers in North Carolina are still experiencing outages. Duke Energy expects to restore most remaining outages by Friday night, though it noted that it will be more difficult in inaccessible areas.
Even though the process of estimating the storm's insurance losses is ongoing, insurers likely will face comparatively less exposure to Hurricane Helene than initially thought. <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-09-30-2024/card/insurers-likely-won-t-feel-the-full-force-of-hurricane-helene-QKMNmp4CoGGEQXUuJq18?mod=Searchresults_pos12&amp;page=1">According</a> to the Wall Street Journal, citing industry sources, reinsurers will not face catastrophic losses.
The total economic loss — including the uninsured damage incurred — is projected to be much graver. Moody's Analytics estimated the economic damage from the hurricane to be between $20 billion to $34 billion.
American International Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Axa SA ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AXAHY#OTC">AXAHY</a>), Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) and Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) are among the largest flood insurers in North Carolina, <a href="https://www.wral.com/story/homeowners-insurance-doesn-t-cover-floods-how-to-protect-your-home-in-north-carolina/21370970/">according</a> to WRAL News.
REITs Report Limited Damage: Several REITs with properties in Florida, Georgia and the Carolinas reported little to no damage following the storm.
In a Tuesday press release, Sun Communities, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUI#NYSE">SUI</a>) reported no material building or structure damage due to the hurricane. The company operates communities in several affected states. NexPoint Residential Trust, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXRT#NYSE">NXRT</a>) and Pebblebrook Hotel Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) issued similar statements.
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Photo: Courtesy Florida Fish &amp; Wildlife via <a href="https://www.flickr.com/photos/myfwcmedia/">Flickr</a> Creative Commons

REIT

AXAHY

NXRT

Hurricane Helene Devastation: The Latest On Damage, Companies Affected

Hurricane Helene and the aftermath of the Category 4 storm have left over 100 people dead, millions without power and destruction not seen in decades in several states since making<a href="https://www.benzinga.com/news/24/09/41073069/hurricane-helene-update-28-dead-power-outages-insurance-damages-and-more"> landfall Thursday night.</a>
What Happened: The hurricane, which shut down airports, roads and bridges, theme parks and sporting contests<a href="https://www.benzinga.com/general/sports/24/09/41053573/hurricane-helene-disrupts-flights-sports-events-disney-operations-affected-regions-stocks-to-watch"> ahead of the storm&#8217;s landfall,</a> further devastated the states in its path after making landfall.
At least 102 people are dead across the states of North Carolina, South Carolina, Georgia, Florida, Tennessee and Virginia, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-helene-florida-north-carolina-georgia-09-30-24/index.html">CNN</a>.
With more than 100 dead, Hurricane Helene now ranks as one of the deadliest hurricanes to hit the U.S. in the last 50 years. Hurricane Katrina had 1,833 fatalities and remains the worst storm in the last 50 years. Helene ranks third behind Katrina and Hurricane Ian, which caused 150 deaths.
Georgia Gov. Brian Kemp said Hurricane Helene "spared no one" when it came to the storm path.
"It looks like a tornado went off, it looks like a bomb went off," Kemp said.
Regions in North Carolina and South Carolina received four to five months worth of rain over a three-day period.
The federal government has declared a public health emergency for Florida, Georgia and North Carolina. Federal disaster declarations have been made for Florida, Georgia, Alabama, North Carolina, Tennessee and Virginia.
President Joe Biden is set to visit some of the impacted areas later this week "as soon as it will not disrupt emergency response operations," the White House said. Former President Donald Trump is set to visit areas impacted by the hurricane on Monday.
Read Also: <a href="https://www.benzinga.com/news/24/09/41082452/hurricane-helene-exposes-vulnerability-of-floridas-home-insurance-market">Hurricane Helene Exposes Vulnerability Of Florida&#8217;s Home Insurance Market</a>
North Carolina Hit Hard: Among the states most affected by Hurricane Helene is North Carolina, with Buncombe County, home of the city of Asheville, accounting for at least 40 of the storm fatalities. 
North Carolina Gov. Roy Cooper called Hurricane Helene "one of the worst storms in modern history."
Over 200 roads are closed in North Carolina as of Monday, with many people still unaccounted for, meaning the fatality count could rise in the coming days.
The hurricane damage in North Carolina could impact several key <a href="https://www.commerce.nc.gov/business/key-industries-north-carolina">industries</a>, with the state&#8217;s plastics/chemical workforce being one of the country&#8217;s largest, as well as North Carolina being a large employer in the automotive sector, the home of several large financial companies, the second largest turbine manufacturer and a key semiconductor manufacturer.
The state is one of the largest textile manufacturers in the country and is the home of Hanesbrands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>).
Fourteen of the Fortune 500 companies call North Carolina home, including Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>).
Lowe's and peer home improvement company Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) are among the companies that could benefit from the restoration efforts in the region and the home repairs and rebuilds needed in the coming months.
Power Outages: Over 4 million homes had no power as of Friday across Florida, Georgia and South Carolina.
As of Monday morning, 2 million homes and businesses remain without power.
Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), which is headquartered in North Carolina, offers utilities to several of the states impacted by the storm. The company <a href="https://www.prnewswire.com/news-releases/duke-energys-hurricane-helene-recovery-restores-power-to-more-than-1-1-million-in-south-and-north-carolina-downed-trees-blocked-roadways-damaged-and-destroyed-power-equipment-impeding-efforts-in-the-sc-upstate-region-and-nc-302261927.html">said </a>it has restored power to more than 1.1 million people in North Carolina and South Carolina with over 900,000 customers still without power as of Sunday night, primarily in the Carolinas. 
Helen&#8217;s aftermath could be a long process for Duke Energy, which is a publicly traded company.
"Based on what we can see on the ground, from helicopter and by drone, there are lots of areas across the South Carolina Upstate and North Carolina mountains where we're going to have to completely rebuild parts of our system, not just repair it," Duke Energy storm director for the Carolinas Jason Hollifield said.
Georgia Power, which is a unit of Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), is another utility company that <a href="https://www.prnewswire.com/news-releases/georgia-power-releases-key-estimated-damage-statistics-from-hurricane-helene-as-restoration-progress-continues-302261899.html">faced </a>heavy power outages. The company said Sunday that it had restored power for around 690,000 customers and around 425,000 are still without power.
The utility company said Hurricane Helene was the "most destructive hurricane" in company history. The company estimates it will have to replace or repair over 5,000 power poles, over 9,000 spans of wire and over 500 transformers.
Generator company Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) could see a lift in the current quarter with heavy purchases likely to have been made ahead of the storm.
Insurance Impact: After the hurricane hit an area of Florida with a lower population than other regions, a report from the Miami Herald said the losses from the storm could be modest for the state's insurance market and smaller than Hurricane Ian (2022) and Hurricane Michael (2018).
Ahead of the storm, a report from reinsurance company Gallagher Re, which is a unit of Arthur J. Gallagher &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>), said private insurers' losses could come in a range of $3 billion to $6 billion across multiple states.
Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are among the publicly traded companies that could be impacted by the insurance claims from the hurricane.
 A new report from AccuWeather, <a href="https://www.nbcnews.com/news/weather/live-blog/helene-deadly-storm-live-updates-rcna173203">shared </a>by NBC News, says the total damage from the storm and the economic loss could total a range of $145 billion to $160 billion. The previous AccuWeather estimate was a range of $95 billion to $100 billion.
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Photo via Shutterstock.

Hurricane Helene: 102 Dead, 2 Million Without Power After Storm Destruction In 6 States

At least 28 people are reportedly dead in three states after <a href="https://www.benzinga.com/news/24/09/41028566/tropical-storm-helene-set-to-become-hurricane-generac-duke-energy-stocks-react-as-florida-braces">Hurricane Helene made landfall</a>.
What Happened: Hurricane Helene was classified as <a href="https://www.benzinga.com/topic/hurricane">a Category 4 storm</a> when it made landfall Thursday night in Florida. It brought heavy rain and winds of over 100 miles per hour.
By Friday, the storm was downgraded to a tropical storm. It continued to make its path north to Georgia and South Carolina, as <a href="https://apnews.com/live/hurricane-helene-tracker-maps-updates">reported </a>by the Associated Press.
At last check, the casualties from Hurricane Helene, according to the <a href="https://www.independent.co.uk/news/world/americas/hurricane-helene-landfall-florida-tracker-death-toll-b2619842.html">Independent</a>, total 28. 
Among the hardest hit areas of Hurricane Helene was the Big Bend region of Florida. This is the third hurricane in more than a year to hit the area. 
Hurricane Helene is also expected to cause more damage than the combined damage from Hurricane Idalia (August 2023) and Hurricane Debby (August 2024).
"To have something that was even bigger than those two storms causing a lot of damage, I think it's a sense of trauma for the community," Florida Governor Ron DeSantis said Friday.
Storm cleanup and recovery efforts Friday included trying to open airports in Florida that were previously closed to prepare for the storm and to get bridges and roads back open that had been shut down ahead of the storm.
Here's an update on the storm's impact on the power outages, the insurance market, and the stocks investors <a href="https://www.benzinga.com/general/sports/24/09/41053573/hurricane-helene-disrupts-flights-sports-events-disney-operations-affected-regions-stocks-to-watch">are likely watching.</a>
<h2 class="wp-block-heading">Power Outages</h2>
Over four million homes remain without power as of Friday across the areas hit the hardest like Florida, Georgia and South Carolina.
Hundreds of thousands of people in Florida had lost power in the hours before the hurricane made landfall.
Investors will closely be monitoring Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) — one of the largest power companies in Florida.
With the anticipated power outages and storm damages from the storm, investors will be closely watching generator company Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) to see if the company gets a boost in its financials in the current quarter from the storm's impact.
Read Also: <a href="https://www.benzinga.com/news/24/09/41028566/tropical-storm-helene-set-to-become-hurricane-generac-duke-energy-stocks-react-as-florida-braces">Tropical Storm Helene Set To Become Hurricane: Generac, Duke Energy Stocks React As Florida Braces</a>
<h2 class="wp-block-heading">Storm Damage, Insurance Impact</h2>
A <a href="https://www.miamiherald.com/news/politics-government/state-politics/article293117729.html">report </a>from the Miami Herald said the losses from the storm could be modest for Florida's insurance market and smaller than Hurricane Ian (2022) and Hurricane Michael (2018).
"This looks like it will not be a large loss event for Florida insurers," Insurance Information Institute spokesperson Mark Friedlander said.
Friedlander said it could be "a manageable event," which could be due to the hurricane hitting an area of Florida that is not as populated as other parts of the state.
A report from reinsurance company Gallagher Re, which is a unit of Arthur J. Gallagher &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>), said Wednesday that private insurers' losses could come in a range of $3 billion to $6 billion across the multiple states impacted.
For comparison, Hurricane Michael, which was a Category 5 storm that hit Florida, caused $9 billion in losses. Hurricane Irma represented around one million claims and $20 billion in losses.
Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are among the publicly traded companies that could be impacted by the insurance claims from the hurricane.
The Aftermath: The death toll from Hurricane Helene is likely to rise as search and rescue missions are underway across several states. Power outages could persist for days and the damage done from the storm will take months to years to recover from for businesses and residents.
Home improvement retailers Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) are other stocks often linked to hurricanes due to the damage done to homes and repair efforts that are needed.
With hurricane season still active until late November, the areas impacted by Hurricane Helene will be hoping that more large storms don't make landfall in the coming months.
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Image: Shutterstock

Hurricane Helene Update: 28 Dead, Power Outages, Insurance Damages And More

Hurricane Helene is on track to hit Florida and the Gulf Coast region Thursday night in what could be one of the most powerful storms to strike the <a href="https://www.benzinga.com/topic/hurricane">regions in decades.</a>
Here's a look at the regions most affected, and how the hurricane is impacting travel, sports, and key stocks to watch.
Hurricane Path: Hurricane Helene <a href="https://www.benzinga.com/news/24/09/41028566/tropical-storm-helene-set-to-become-hurricane-generac-duke-energy-stocks-react-as-florida-braces">could hit and impact</a> several major cities in Florida and the nearby states, including Tampa, Tallahassee and Atlanta.
Currently a Category 2 hurricane, the storm could be elevated to a Category 3 or Category 4 storm in the coming hours and days. The hurricane is expected to be one of the largest storms in the region over the last century, as <a href="https://www.cnn.com/weather/live-news/hurricane-helene-florida-09-26-24/index.html">reported </a>by CNN.
Over three million people in Florida and Georgia are currently under a Tornado Watch until 10 p.m. ET Thursday night.
A CNN meteorologist predicts that peak wind could reach over 100 mph in some regions Thursday and Friday, with rainfall of up to 12 inches in certain areas.
Florida Governor Ron DeSantis warned of the potential that Hurricane Helene could shift its path and could hit Tallahassee, the state's capital. Tallahassee has never been directly hit by a Category 3 hurricane.
"This area has not had a major hurricane hit in quite some time, and certainly nobody in recent memory has seen a storm of this magnitude that has hit," DeSantis said, as reported by CNN.
While the worst of the storm will likely be felt in Florida and Georgia, the storm's path, which could increase in size, is expected to travel through portions of Alabama, Tennessee, Kentucky, Missouri, and Illinois, with the non-Florida states getting hit on Friday and Saturday.
Read Also: <a href="https://www.benzinga.com/markets/esg/24/05/39012013/noaa-meteorologists-predict-aggressive-hurricane-season-what-it-means-for-home-depot-generac-other-s">NOAA Meteorologists Predict Aggressive Hurricane Season: What It Means For Home Depot, Generac, Other Storm-Related Stocks</a>
Stocks to Watch: Among the sectors that could be hit by the hurricane is the airline industry, with over 1,000 flights canceled Thursday at several Florida airports.
Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) was listed as the airline with the most impact on the region by CNN, with the potential for its flights to resume Friday morning. The company has waived change fees for flights to other regions and airports to help travelers.
Florida is a key region for many theme parks, including Disney World, the popular theme park from The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>). Disney World has announced some park experiences have been closed due to the hurricane, but the theme park remains open. Disney World has closed for several hurricanes over the years, as <a href="https://www.tallahassee.com/story/news/2024/09/26/hurricane-helene-florida-theme-parks-closed-open-disney-universal-orlando/75389447007/">reported </a>by Tallahassee Democrat. Hurricane Ian in September 2022 was the last time Disney World fully closed.
United Parks &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRKS#NYSE">PRKS</a>) closed Busch Gardens Tampa Bay and several water parks it owns in the region, while SeaWorld Orlando remains open Thursday.
Insurance stocks will likely be on watch, with the damage from the storm causing potential billions of dollars in damage. Stocks like Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) could see heavy claims from customers after the storm.
Duke Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) is a larger operator in Florida and could see interest from investors as the storm damage and power outages are assessed.
While the stocks above could be negatively affected by the hurricane, several stocks could be viewed as winners from storm damage and prolonged power outages.
Generac Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) is often viewed as a hurricane stock thanks to its sale of generators and power equipment. Generac shares are up 7% in the last five days, in possible anticipation of the impact of Hurricane Helene.
Home improvement retailers Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) could see a positive impact from repairs needed to homes in the region and see their quarterly results reflect the increased sales, depending on the storm&#8217;s size.
Sports Impact: The early impact of the storm was witnessed in the sports world Wednesday, with Major League Baseball cancelling the Atlanta Braves (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>) and New York Mets contests set for Wednesday and Thursday. The games will now be played in a doubleheader Monday, <a href="https://www.espn.com/mlb/story/_/id/41442218/mets-braves-games-wednesday-thursday-postponed-monday-doubleheader">extending </a>the MLB regular season.
The games are pivotal in the current fight for the National League Wild Card race to secure a postseason berth. The Mets (87-70) currently lead the Braves (86-71) in the Wild Card race. It's possible that Monday's games could decide which team makes it into the MLB Playoffs. For the Mets, the team could see a tough travel schedule if they do make the playoffs, flying into Atlanta on Monday and then flying to Milwaukee or the West Coast for a first-round matchup that would start on Tuesday.
Several NCAA Football games could be <a href="https://www.usatoday.com/story/sports/ncaaf/2024/09/24/hurricane-helene-college-football-schedule-impact/75369720007/">impacted </a>by the hurricane over the weekend. The Miami Hurricanes&#8217; home game on Friday could be postponed. UCF&#8217;s home game on Saturday will also be monitored. The highly anticipated Alabama and Georgia game set to play in Tuscaloosa, Alabama, on Saturday could also be impacted by heavy rain and winds.
The National Football League is also monitoring the storm and its impact on games scheduled for Sunday and Monday. The Tampa Bay Buccaneers, Atlanta Falcons, and Carolina Panthers are currently set to host home games at 1 p.m. ET Sunday. The Miami Dolphins host a Monday Night Football game that is also being monitored.
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Image created using artificial intelligence via Midjourney.

Sports

BATRA

PRKS

Hurricane Helene Disrupts Flights, Sports Events, Disney Operations: Affected Regions, Stocks To Watch

In the latest trading session, Allstate (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>) closed at $191.82, marking a -0.55% move from the previous day. This move lagged the S&amp;P 500&#39;s daily gain of 0.25%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.56%.
The insurer&#39;s stock has climbed by 5.35% in the past month, exceeding the Finance sector&#39;s gain of 1.86% and the S&amp;P 500&#39;s gain of 1.65%.
The investment community will be closely monitoring the performance of Allstate in its forthcoming earnings report. The company is expected to report EPS of $3.27, up 303.7% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $16.24 billion, indicating a 11.35% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.20 per share and a revenue of $63.73 billion, indicating changes of +1500% and +11.03%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Allstate. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company&#39;s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we&#39;ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% higher. Allstate is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Allstate has a Forward P/E ratio of 12.69 right now. This denotes a discount relative to the industry&#39;s average Forward P/E of 13.83.
Also, we should mention that ALL has a PEG ratio of 1.81. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company&#39;s projected earnings growth. Insurance - Property and Casualty stocks are, on average, holding a PEG ratio of 1.51 based on yesterday&#39;s closing prices.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 20, positioning it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
<a href="https://www.zacks.com/stock/news/2340862/allstate-all-stock-sinks-as-market-gains-here-s-why?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_6v1-2340862">To read this article on Zacks.com click here.</a>

Earnings

Allstate Stock Sinks As Market Gains: Here's Why

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Watching Shares Of Auto Insurance Companies; Donald Trump Post On X, "Your Automobile Insurance is up 73% — VOTE FOR TRUMP, I'LL CUT THAT NUMBER IN HALF!"

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 10 years by 1.03% on an annualized basis producing an average annual return of 11.58%. Currently, Allstate has a market capitalization of $49.51 billion. 
Buying $1000 In ALL: If an investor had bought $1000 of ALL stock 10 years ago, it would be worth $2,996.11 today based on a price of $187.50 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725989417_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.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $3,000 Today

Barclays analyst Alex Scott initiates coverage on Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Underweight rating and announces Price Target of $175.

Initiation

Barclays Initiates Coverage On Allstate with Underweight Rating, Announces Price Target of $175

Shares of The Allstate Corp. (ALL) have gained as much as 35% so far this year. Investors who've enjoyed this rally wonder if there is more room for further upside or if the stock peaked. Let's find out… The Allstate Corporation (<a href="https://stocknews.com/stock/ALL/">ALL</a>) has been on an impressive run this year, with its stock surging 35% year-to-date. This rise has caught the attention of many investors wondering if there's still room for further gains.
The company's impressive turnaround in the second quarter, transitioning from a net loss to solid profits, was largely driven by higher premiums, stronger underwriting, and fewer catastrophe-related losses. Its consolidated premiums written for the quarter were at $15.43 billion, reflecting a 12.4% increase year-over-year. At the same time, its catastrophe losses dropped to $2.12 billion, down from $2.70 billion.
Insurers often avoid the ups and downs in demand that plague other financial firms, thanks in part to the widespread use of employer-sponsored and government-mandated insurance policies. With the economy showing signs of a soft landing, markets have reached all-time highs in 2024, which is good news for insurers like Allstate as it boosts their investment income.
Tom Wilson, Allstate's CEO, highlighted that these strong results reflect the company's effective strategies, setting them up for continued success. ALL helped nearly 2 million customers in the last quarter by handling claims related to storms, accidents, and device breakages.
Shares of ALL have gained 36.9% over the past nine months and 66.9% over the past year, closing the last trading session at $188.69.
Now, let's look at factors that could influence ALL's performance in the upcoming months:
Solid Financial Performance
For the second quarter that ended on June 30, 2024, ALL reported total revenues of $15.71 billion, up 12.4% year-over-year and slightly above the analyst's estimate of $15.23 billion. Its property and casualty insurance premiums increased by 11.9% year-over-year to $13.95 billion. Net investment income grew 16.7% from the year-ago value to $712 million.
Further, the company's income from operations (before income tax expense) stood at $430 million versus a prior year's loss of $1.75 billion. ALL's non-GAAP net income amounted to $429 million and $1.61 per share, compared to an adjusted net loss of $1.16 billion and $4.42 per share in the same quarter last year. Additionally, its total investments increased to $70.60 billion as of June 30, 2024, compared to $66.68 billion as of December 31, 2023.
Favorable Analyst Estimates
The consensus revenue estimate of $15.67 billion for the fiscal third quarter (ending September 2024) represents an 8.1% increase year-over-year. The consensus <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> estimate of $3.25 for the current quarter indicates a 300.8% improvement year-over-year. The company has an excellent surprise history, surpassing the consensus revenue and EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue is anticipated to grow 10.3% year-over-year to $62.97 billion, while its EPS is expected to increase significantly from the prior year period to $15.14.
In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 8.6% and 19.3% from the same period last year to $68.41 billion and $18.06, respectively.
Discounted Valuation
In terms of forward non-GAAP PEG, ALL is currently trading at 0.07x, 94.3% lower than the industry average of 1.29x. Likewise, its forward EV/Sales multiple of 0.94 is 69.8% lower than the industry average of 3.12x. In addition, the stock's 10.74x forward EV/EBIT ratio is 6% below the 11.43x industry average. Also, its forward Price/Sales multiple of 0.79 compares to the industry average of 2.86.
High Profitability
ALL's trailing-12-month ROCE of 19.32% is 86.8% higher than the 10.35% industry average. Similarly, the stock's 10.57% trailing-12-month ROTC is 52.4% above the 6.94% industry average. Further, its trailing-12-month asset turnover ratio of 0.58x compares to the industry average of 0.22x.
POWR Ratings Show Promise
ALL's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall B rating, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated considering 118 distinct factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. ALL boasts an A grade for Growth, consistent with its solid financial performance in the last reported quarter.
The stock's A grade for Momentum is justified by its share price trading above its 50-day moving average of $180.80 and 200-day moving average of $165.39. Also, its 0.48 beta justifies its B grade for Stability.
ALL is ranked #7 out of 55 stocks in the A-rated <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance - Property &amp; Casualty</a> industry. <a href="https://stocknews.com/stock/ALL/">Click here</a> to access ALL's Value, Sentiment, and Quality ratings.
Bottom Line
ALL's strong financial performance in the second quarter shows that it's effectively carrying out its profit improvement plan and pushing forward with its Transformative Growth strategy. The company has seen a nice bump in investment income and lower catastrophe losses, which means it's doing well in managing risks and helping customers.
Plus, it has the financial flexibility and resources to support its future growth plans. With that in mind, it looks like there's still plenty of room for Allstate to keep growing, making it a solid choice for investors looking to capitalize on potential gains in the insurance sector.
How Does The Allstate Corporation (ALL) Stack Up Against Its Peers?
While ALL has an overall grade of B, equating to a Buy rating, you may also check out these other A (Strong Buy)-rated stocks within the <a href="https://stocknews.com/category/property-casualty-insurance/">Insurance - Property &amp; Casualty</a> industry: Mercury General Corporation (<a href="https://stocknews.com/stock/MCY/">MCY</a>), Unipol Gruppo S.p.A. (<a href="https://stocknews.com/stock/UFGSY/">UFGSY</a>), and QBE Insurance Group Limited (<a href="https://stocknews.com/stock/QBIEY/">QBIEY</a>). To explore more Insurance - Property &amp; Casualty stocks, <a href="https://stocknews.com/category/property-casualty-insurance/">click here</a>.
What To Do Next?
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ALL shares were trading at $188.91 per share on Friday afternoon, up $0.22 (+0.12%). Year-to-date, ALL has gained 37.17%, versus a 21.50% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/all-mcy-ufgsy-qbiey-has-allstates-35-ytd-surge-left-room-for-further-upside/>Has Allstate's 35% YTD Surge Left Room for Further Upside?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Has Allstate's 35% YTD Surge Left Room for Further Upside?

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