Allstate Declines After Insurer Posts Loss, Misses Estimates

Allstate Corp., the largest publicly traded U.S. home and auto insurer, fell 6.9 percent in early trading after posting its third straight loss on the declining value of investments.

Allstate slipped $1.90 to $25.70 at 8:01 a.m. in New York. The first-quarter net loss of $274 million, or 51 cents a share, compares with a profit of $348 million, or 62 cents, in the same period a year earlier, the Northbrook, Illinois-based company said in a statement yesterday. Profit before investment losses was 84 cents a share, missing the $1.25 estimate of 14 analysts surveyed by Bloomberg...

Bloomberg: Allstate Declines After Insurer Posts Loss, Misses Estimates