There has not been any significant bounce from the stock drop after the decline at the increased reserving an November…even as the overall market has recovered..
Tommy and Wilson trying what Sears tried: selling assets and property, cutting staff, taking their eyes off real customer service…etc…
I hope Wall Street finally starts to push this management team regarding retention, customer service issues, etc…Wilson has been able to survive touting margins but those margins are now being pressured big and at some point just raising rates is not going to be an answer as the customers will go to lower priced carriers…WITH BETTER SERVICE!!
There is only so much that Wilson/Shapiro can buy back stock to stabilize the price so if they lose the faith of Wall Street, we could see a big retreat from Allstate in the future…
Fingers crossed for a break below 100 after the year end results are announced as they likely will be very poor…
The “handlers” paid by Allstate on this board are going to have their work cut out for them trying to post positives to offset the negatives that are well deserved.
When I see the stock near or below 100, we can begin to feel that karma and payback are here for Wilson, Shapiro and their leadership team that destroyed what was once a great American company…..
Just like they did at SEARS….
6 replies (most recent on top)
@hri+1hWZyMyg, so the only people who work at Allstate who are NOT “accountable for their results” is the CEO and president of the company?? OK, got it..
Respectfully, it is their fault to a degree. Yes, macro inflation trends are challenging. However, they continued to cut rates into 3Q of 2021 while competitors had pivoted to rate increases to improve profitability. Inflation was not transitory, but they wanted to go counter to competitors to drive growth. Good job--every piece of business cost us money. Then pulled advertising budget forward to take more share in Q1, even while margins pressured. All to show growth...temporarily. The story of Allstate--every time we pivot to growth, our margins evaporate. There has been no Transformative anything since it was announced. Sounds great, but short on results.
The market is down significantly from its high but has recovered from its low but Allstate has not…I believe that is what OP was saying and the OP is correct….
Allstate would be significantly lower if Allstate had not gobbled up its own shares to artificially boost the price…
Allstate financially is accomplished with smoke and mirrors with attempts to hide its sluggish growth, terrible retention, terrible service with customers waiting weeks and left on hold…Wilson has survived on margins..
Now he is stuck chasing margins hoping that customers will continue to stick around as he increases prices as his cost cutting has decimated any pretense of service orientation…
Pull out your popcorn..
Incredible how employees want to root against the company that feeds their family’s.
The overall market recovered??? It's still down over 20 percent ytd
The recent stock decline really is not Wilson or Shapiros fault