Allstate Corp. (ALL)

[jscot]

Last Price (USD) $ 21.61
Change -0.27 (-1.23%)
Bid 21.00
Ask 23.70
Volume 6,138,416
Day's Range 21.34 - 22.50

[jscot]

up $5 on announement of .41 divvy. Hmm

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today announced a quarterly dividend of forty-one cents ($0.41) on each outstanding share of the Corporation's common stock, payable in cash on January 2, 2009 to stockholders of record at the close of business on November 28, 2008.

[jscot]

nice move up

[jscot]

10Q out

[Stock]

Fitch is pretty much wrong about that, IMO. This significantly undervalues a business with really good cash flows. It is also an analyst reaction to AIG offering to put their life assts on the auction block because they need cash so badly.

This is tricky stuff. Life insurance policies are regulated by the states and feds; I'm sure people with ALL life policies are asking questions about what this means to them.

MFC is also in sour shape - same story.

[jscot]

Fitch considers Allstate's life operation a strategic, but not core operation. The fact that more troubled assets reside at the life operation, the relatively modest franchise and capital quality coupled with and weakened performance of the life operations contribute to our opinion

[Stock]

Correction - Fitch Downgrades Allstate Corp. & Subsidiaries; Outlook Negative

Last update: 10/28/2008 9:54:01 AM

CHICAGO, Oct 28, 2008 (BUSINESS WIRE) -- This is a correction for a message issued on October 27, 2008. It amends the Short-Term and Commercial Paper rating.

Fitch Ratings has taken the following rating actions on The AllstateCorporation (Allstate):

-- Issuer Default Rating (IDR) downgraded to 'A+' from 'AA-'.
-- Senior debt downgraded to 'A' from 'A+';
-- Trust preferred rating downgraded to 'A-' from 'A';
-- Commercial paper downgraded to 'F1' from 'F1+';
-- Short-term IDR downgraded to 'F1' from 'F1+';
-- The insurer financial strength (IFS) ratings of Allstate'sproperty/casualty and life subsidiaries (see list below) are alsodowngraded one notch to 'AA' and 'AA-', respectively.

The Rating Outlook is Negative.

The rating actions follows Allstate's third quarter 2008 earnings announcement where details of deterioration in the company's investment portfolio as well as a plan to infuse capital into the life insurance operation were given.

Specifically, through the first three quarters of 2008 Allstate reported a nearly $5 billion or 22% decline in stockholders' equity to $17 billion.

More than $3 billion in pre-tax realized capital losses and a $6 billion unfavorable shift in pre-tax unrealized gains and losses were behind the year-to-date decline in equity.

Allstate's life operations account for a significant portion of the realized and unrealized investment losses.

The Negative Rating Outlook reflects Fitch's concerns related to Allstate's investment portfolio and the potential for additional impairments.

Fitch considers Allstate's life operation a strategic, but not core operation. The fact that more troubled assets reside at the life operation, the relatively modest franchise and capital quality coupled with and weakened performance of the life operations contribute to our opinion.

Consequently, the primary life insurance subsidiaries carry insurer financial strength ratings one notch below the property/casualty operating subsidiaries.

The current life insurance ratings do take into account the financial support currently offered by Allstate including a $1.0 billion Capital Support Agreement and inclusion on company credit facilities.

Allstate revealed plans to add $1 billion to $1.25 billion of capital to the life operation in the fourth quarter of 2008, in addition to the $750 million already put into the life operation during the first three quarters of 2008, to replenish losses on invested assets.

The NAIC risk-based capital ratio following the capital infusion is expected to reach 300% of the NAIC company action level at the life operation. While this level of surplus is seen as solid, additional investment losses are possible, and consequently, capital quality could deteriorate again in the near future.

While Fitch believes the life companies have a good competitive position in individual fixed annuities (particularly the bank distribution channel) and in the funding agreement backed note market, standalone ratings would be significantly lower than the current 'AA-' level.

Allstate's personal lines property/casualty business was negatively impacted by catastrophe losses during 2008 that added 15.2 percentage points to its year-to-date combined ratio of just over 100%. Fitch believes that Allstate's property/casualty operations remain strong, however, ratings were effectively pulled down by the underperformance and related support provided to the life insurance operations.

Allstate financial flexibility appears solid as financial leverage remains consistent with the rating category at 25% of total capital. In addition, Allstate's $1 billion bank line remains completely available and the holding company has approximately $5 billion of cash and securities at September 30, 2008 relative to estimated annual fixed charges of $1.3 billion.

Fitch has downgraded the following ratings with a Negative Outlook:

The Allstate Corporation

-- Junior subordinated rating 'A-'.$500 million debenture due May 15, 20376.50% $500 million debenture due May 15, 2067
-- Senior unsecured debt rating 'A'.7.50% $250 million debenture due July 15, 20136.75% $250 million debenture due May 15, 20186.90% $250 million debenture due May 15, 20387.20% $750 million note due December 1, 20096.125% $350 million note due February 15, 20125.00% $650 million note due August 15, 20146.125% $250 million note due December 15, 20325.35% $400 million note due June 1, 20335.55% $800 million note due May 9, 20355.95% $650 million note due April 1, 2036-- Allstate Insurance Company-- Allstate County Mutual Insurance Co.-- Allstate Indemnity Co.-- Allstate P&C Insurance Co.-- Allstate Texas Lloyd's-- Deerbrook Insurance Co.-- Encompass Home and Auto Insurance Co.-- Encompass Independent Insurance Co.-- Encompass Insurance Company of America-- Encompass Insurance Company of Massachusetts-- Encompass Property and Casualty Co.IFS rating downgraded 'AA' from 'AA+'.-- Allstate Life Insurance Co.-- Allstate Life Insurance Co. of NY-- American Heritage Life Insurance Co.-- Lincoln Benefit Life Insurance Co.IFS rating downgraded 'AA-' from 'AA'.Allstate Life Global Funding Trusts Program 'AA-'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, . Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. The issuer did not participate in the rating process other than through the medium of its public disclosure.

SOURCE: Fitch Ratings
Fitch Ratings Douglas M. Pawlowski, CFA, [phone] (Chicago) Bruce E. Cox, [phone] (Chicago) Peter F. Patrino, CFA, [phone] (Chicago) Tana Higman, [phone] (Chicago) Tyrene Frederick-Mack, [phone] (Media Relations, New York) [e-mail] Business Wire 2008

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Last Price (USD) $ 24.41
Change -1.12 (-4.39%)
Bid -
Ask -
Volume 6,188,916
Day's Range 24.11 - 25.34

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Last Price (USD) $ 26.59
Change -1.64 (-5.81%)
Bid -
Ask -
Volume 8,064,197
Day's Range 25.53 - 29.46

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Last Price (USD) $ 31.58
Change ▲ 2.41 (8.26%)
Bid -
Ask -
Volume 8,659,740
Day's Range 28.11 - 31.58

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PROBABLY MOVE UP SOON

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2008/10/10 26.01 27.73 23.39 26.96 11,581,349 26.96
2008/10/09 31.68 32.71 27.50 27.50 10,223,828 27.50
2008/10/08 36.50 38.70 28.71 29.96 12,919,000 29.96
2008/10/07 42.10 42.50 38.01 38.01 4,990,427 38.01
2008/10/06 44.77 47.00 40.05 42.10 4,246,502 42.10

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http://ih.advfn.com/p.php?pid=nmona&cb=1223858769&article=28467774&symbol=NY%5EALL

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Allstate appoints Joseph J. Richardson Jr. to Senior Vice President




Allstate Insurance Company announced it has promoted Joseph J. Richardson Jr. to senior vice president, Protection Distribution. Richardson reports to George Ruebenson, President of Allstate Protection, and has also become a member of Allstate’s Senior Management Team

[vette5960]

What the heck happened to this stock?! $10 fall in 2 weeks?

[energymanNJ]

(NYSE:ALL)Trial set in suit over Katrina claims By MICHAEL KUNZELMAN, Associated Press Writer

http://news.yahoo.com/s/ap/20070408/ap_on_bi_ge/katrina_insurance;_ylt=AoM9RHVMSjOXRZc9P2dpS8Kb.HQA

NEW ORLEANS - Allstate Insurance Co. policyholders Robert and Merryl Weiss blame Katrina's winds and possibly a storm-spawned tornado for demolishing their Slidell home. But the Northbrook, Ill.-based company concluded that the hurricane's storm surge was responsible for most of the damage.
Allstate and other insurers say their policies cover a hurricane's wind but not its rising water. Hundreds of homeowners in Louisiana and Mississippi have sued their insurers for refusing to cover billions of dollars in damage from Katrina's storm surge.
Jury selection starts Monday in the trial of the Weisses' lawsuit, only the second Katrina insurance case to be tried so far in a Louisiana federal court

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Posted by: energymanNJ
In reply to: None Date:2/10/2007 10:18:19 PM
Post #of 139129

Easy money next week.........IMO
The Allstate Corporation (Public, NYSE:ALL)

Either SELL IT SHORT, or BUY the remainder of February's
$60.00 PUT's OPTION..... for the cheap price of 0.15-0.19 per contract..
March's $60.00 PUT's option at 0.55-0.65 is looking very sweat also....

Reason: Allstate has had some major bad press this weekend on ABC's NIGHT LINE........MSNBS news special report. I saw 4 different reports on different stations... And so on and so on !!!
They(All State) has rejected most all of it's Hurricane Katrina's damage claims...........People are outraged.....Lawsuits coming....People are just fed up so much, that the near future Press and Media, will definitely close this stock below $60.00 by end of day Wednesday Feb, 27th.....IMO
I would love to see the CEO resign.....MUCHO bucks to shorts and PUT's options Holders

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Posted by: energymanNJ
In reply to: None Date:2/14/2007 12:12:46 AM
Post #of 139129

I think Allstate Corp(ALL) is going to take a nice dip south tomorrow....

61.20......2537300.....NYE 17:32:19
61.20......2537300......NYE 16:37:58

A 5 mil after hours dump in lieu of recent bad press by a key institutional holder....

I would love it if my $60 puts come in the money before Friday.........$$$$BIG MONEY FOR ME THEN$$$
They were so cheap a week ago, I have a shit load....

And I was all over the March's $60 puts also.....IMO

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Posted by: energymanNJ
In reply to: None Date:2/14/2007 8:04:00 PM
Post #of 55550

ALL -- Allstate Corp. (The)
Com (1 Cent)

COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

Insurer delays pullout: Allstate planned to stop offering new policies in Md. coastal areas

Feb 14, 2007 (The Baltimore Sun - McClatchy-Tribune Business News via COMTEX) -- Allstate Corp. has postponed its decision to no longer write new homeowner policies in certain coastal areas it deems too risky.
Company officials said yesterday that they are working to satisfy inquiries from Maryland regulators, who have asked for detailed financial data and information on hurricane forecasting models.

The insurer decided last year to stop offering new property insurance policies in all or part of 11 Maryland counties on the Atlantic Ocean and along the Chesapeake Bay and its tributaries, while continuing to renew policies.

http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cko%5C2007%5C02%5C14....

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[MrSparex]

...oh well!

[MrSparex]

Anybody in this one?

[MrSparex]

Gotta love that Allstate guy!