Allstate Lags Before Earnings Report
Though it technically didn't lose at all last week, Allstate's 0.16% gain last week put it in the laggard's spot versus competitors. Set to release its first-quarter earnings after the bell on Wednesday, three pieces of news from Allstate may have caused the lower gains:
- Higher than expected catastrophic event payouts for the first quarter.
- New bond purchases.
- Potential sale of its Lincoln Benefit Life Co. subsidiary.
In the video below, Motley Fool contributor Jessica Alling discusses the three developments and what they means for insurance investors.
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The article Allstate Lags Before Earnings Report originally appeared on Fool.com.Fool contributor Jessica Alling has no position in any stocks mentioned -- you can contact her here. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.