Allstate stock surges toward biggest gain in more than three years

Shares of Allstate Corp.
ALL,
+5.27%
rallied 4.5% in afternoon trading Thursday toward a fourth-straight gain, after the insurance company disclosed premium increases as it looked to “improve profitability.” The stock’s rally puts it on track for the biggest one day gain since it climbed 5.0% on April 17, 2020. The stock has now run up 9.3% amid a four-session win streak, the best four-day performance since it rose 9.4% during the four-day stretch that ended Aug. 12, 2022, according to Dow Jones Market Data. The win streak started after the stock closed on July 14 at $101.18, which was the lowest closing price since Nov. 20, 2020. The stock has lost 5.8% over the past three months while the SPDR S&P Insurance exchange-traded fund
KIE,
+1.52%
has gained 4.5% and the S&P 500
SPX,
-0.71%
has advanced 9.9%.