Home » Bear Case Scenario » Allstate Bear Case Scenario $ALL $XLF Are we there yet?

Allstate Bear Case Scenario $ALL $XLF Are we there yet?

Allstate (NYSE:ALL) is trying to punch its way north of 52 week highs. Technical traders are salivating over the breakout potential. Maybe its close. Value Line just issued a note today with bullish comments about the stock. Dividend yield is about 1.85% so the income crowd is not that interested.

This is a property and casualty insurance company. They are one cataclysmic event away from missing earnings expectations.

The Allstate Financial segment is still iffy.

Some insider selling has occurred during 2014. Not a raging bull signal in my mind.

Analyst community has one strong buy, ten buy and seven hold recommendations. If the stock breaks through some Johnny come lately will jump on the band wagon after the fact and issue buy recommendations.

If the stock market corrects, earnings from investments will suffer.

Too many imponderables to go all in. No particular catalyst to propel this stock.

George Gutowski writes from a caveat emptor perspective.

 

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