10/17/2007 - 10/20/2007: Allstate announced it will repurchase $3 billion of its stock, and raises its dividends to 38 cents per share, slightly disappointing investor expectations as its stock price dips from $63.49 to $61.23.
The Louisiana state government began forcing Allstate to reinstate the policies that it had canceled in hurricane prone areas. Allstate's risk exposure will increase considerably because of this.
Allstate’s stock dropped $3 per share overnight with the release of the fourth quarter earnings report, which failed to meet expectations, and showed a combined ratio in excess of 100% for 2006.
Edit Metric
