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AllState Seeks New Professionals to Boost its Sales Force
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The Allstate Corporation (ALL - Free Report) , the second-largest property-casualty (P&C) insurer in the U.S, recently announced its intention to strengthen its sales force in Delaware, District of Columbia, Maryland, Virginia and West Virginia. This plan of boosting the sales force is mainly aimed at keeping pace with growing consumer demand for insurance and financial products and services in the Mid-Atlantic region.
Improving the productivity of its sales force has been another major area of focus for the company over the last few years. By enhancing its efforts toward sales force recruitment, standardizing and upgrading field offices and promoting management specialization of individual agent channel, Allstate has substantially increased the efficiency and productivity of its sales force.
These efforts have significantly bolstered the productivity of Allstate’s sales team, which is also clearly reflected by its continuously improving operational performance. Shareholders also seem to be pretty confident on the stock as over the last one month, the stock has gained 5.3%, nearly double than Zacks categorized Property &Casualty Insurance industry’s gain of 2.4%.
Allstate is basically seeking to appoint 1,105 sales professionals in the concerned areas among which 80 appointments would be the agency owners, 25 are supposed to be the exclusive financial specialists and the remaining 1,000 are slated to be hired by those agencies as sales professionals. Notably, candidates who are interested to join Allstate, would require to show that they have sufficient amount of capital to invest in their agency.
Allstate has always been taking up several organic and inorganic growth strategies in order to retain its strong revenue base and grow on margins continuously. This initiative will help the company not only in creating employment in the concerned areas but also will enable the company to bolster its position in the highly competitive insurance market on the back of growing business. We are optimistic that with its operations and capital strategy, Allstate will continue to acclimate to changing market regulations.
Zacks Rank and Stocks to Consider:
Allstate presently has a Zacks Rank #4 (Sell).
Investors can also look at some better-ranked stocks from the Property & Casualty insurance market like Arch Capital Group Ltd. (ACGL - Free Report) , Axis Capital Holdings Ltd (AXS - Free Report) and State National Companies, Inc. . Each of these sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arch Capital offers property, casualty, and mortgage insurance and reinsurance products worldwide. It posted positive surprises in the last four quarters with an average beat of 9.27%.
Axis Capital is one of the several insurance carriers formed to take advantage of the enhanced insurance demand following the 9/11 terrorist attacks. The company also posted positive surprises in the last four quarters with an average beat of 30.19%.
State National, another property, casualty, and mortgage insurance provider in the U.S, posted positive surprises in two of the last four quarters with an average beat of 21.28%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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AllState Seeks New Professionals to Boost its Sales Force
The Allstate Corporation (ALL - Free Report) , the second-largest property-casualty (P&C) insurer in the U.S, recently announced its intention to strengthen its sales force in Delaware, District of Columbia, Maryland, Virginia and West Virginia. This plan of boosting the sales force is mainly aimed at keeping pace with growing consumer demand for insurance and financial products and services in the Mid-Atlantic region.
Improving the productivity of its sales force has been another major area of focus for the company over the last few years. By enhancing its efforts toward sales force recruitment, standardizing and upgrading field offices and promoting management specialization of individual agent channel, Allstate has substantially increased the efficiency and productivity of its sales force.
These efforts have significantly bolstered the productivity of Allstate’s sales team, which is also clearly reflected by its continuously improving operational performance. Shareholders also seem to be pretty confident on the stock as over the last one month, the stock has gained 5.3%, nearly double than Zacks categorized Property &Casualty Insurance industry’s gain of 2.4%.
Allstate is basically seeking to appoint 1,105 sales professionals in the concerned areas among which 80 appointments would be the agency owners, 25 are supposed to be the exclusive financial specialists and the remaining 1,000 are slated to be hired by those agencies as sales professionals. Notably, candidates who are interested to join Allstate, would require to show that they have sufficient amount of capital to invest in their agency.
Allstate has always been taking up several organic and inorganic growth strategies in order to retain its strong revenue base and grow on margins continuously. This initiative will help the company not only in creating employment in the concerned areas but also will enable the company to bolster its position in the highly competitive insurance market on the back of growing business. We are optimistic that with its operations and capital strategy, Allstate will continue to acclimate to changing market regulations.
Zacks Rank and Stocks to Consider:
Allstate presently has a Zacks Rank #4 (Sell).
Investors can also look at some better-ranked stocks from the Property & Casualty insurance market like Arch Capital Group Ltd. (ACGL - Free Report) , Axis Capital Holdings Ltd (AXS - Free Report) and State National Companies, Inc. . Each of these sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arch Capital offers property, casualty, and mortgage insurance and reinsurance products worldwide. It posted positive surprises in the last four quarters with an average beat of 9.27%.
Axis Capital is one of the several insurance carriers formed to take advantage of the enhanced insurance demand following the 9/11 terrorist attacks. The company also posted positive surprises in the last four quarters with an average beat of 30.19%.
State National, another property, casualty, and mortgage insurance provider in the U.S, posted positive surprises in two of the last four quarters with an average beat of 21.28%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>