Allstate Corporation’s ALL fourth-quarter 2017 operating earnings per share of $2.09, surpassed the Zacks Consensus Estimate by 39.3%. The bottom line, however, declined by 3.7% year over year due to high catastrophe loss.The Tax Cuts and Jobs Act resulted in a $506 million increase in net income, which was up 50.4% year over year to $1.22 billion.Allstate generated total revenues of $9.72 billion, outpacing the consensus mark by 15.3% and up 4.7% year over year. The upside was driven by premium growth and an increase in net investment income.In the quarter, total expenses increased 8.3% year over year to $8.69 billion. The company incurred catastrophe loss of $599 million, which was up 98% year over year.Allstate Corporation (The) Price, Consensus and EPS Surprise Allstate Corporation (The) Price, Consensus and EPS Surprise | Allstate Corporation (The) Quote Top-line Growth Across SegmentsProperty-Liability insurance premiums amounted to $7.97 billion, up 2.8% year over year. Net investment income of $45 million also increased 24.3% year over year. Underwriting income of $715 million declined 10.7% year over year due to high catastrophe loss.Service Businesses, a new reportable segment, offers a broad range of products and services that expand and enhance customer value propositions. Total revenues from this division were $264 million up 45.9% year over year, led by Square Trade acquisition closed last year.Allstate Life’s premium and contract charges of $324 million increased 1.9% year over year driven by higher traditional life insurance renewal premiums and lower levels of reinsurance premiums ceded. Net income of $57 million declined 13.6% year over year due to increased contract benefits and operating expenses, partially offset by higher premiums.Allstate Benefits’ premium and contract charges of $273 million were up 8.3% backed by 7.4% growth in policies in force in 2017. Net income of $20 million was 13% lower than the prior-year quarter figure, primarily due to higher contract benefits and operating expenses, partially offset by higher premiums.Allstate Annuities’ premium and contract charges of $4 million remained flat year over year. Adjusted net income of $55 million surged 34% owing to higher performance-based investment income.Capital PositionAs of Dec 31, 2017, total shareholders’ equity was $22.6 billion, up 9.6% year over year.Total assets were $112.4 billion, up 3.5% from the level at 2016-end.Long-term debt remained flat year over year at $6.35 billion.For 2017, cash inflow from operating activities totaled $4.3 billion, up 8% year over year.Stock Repurchase and Dividend UpdateAllstate returned $713 million in the quarter under review via share buyback ($579 million) and dividend payments ($134 million).Driven by its strong operating fundamentals and a reduction in the U.S. federal income tax rate, the company increased the quarterly dividend by 24% to 46 cents per share for the first quarter of 2018.Zacks RankAllstate carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Among other insurers that have reported their fourth-quarter earnings so far, American Financial Group Inc. AFG, RLI Corp. RLI and W.R. Berkley Corp. WRB exceeded their respective Zacks Consensus Estimate by 33.3%, 6.25% and 4.11%.Will You Make a Fortune on the Shift to Electric Cars?Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.It's not the one you think.See This Ticker Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RLI Corp. (RLI): Free Stock Analysis Report W.R. Berkley Corporation (WRB): Free Stock Analysis Report Allstate Corporation (The) (ALL): Free Stock Analysis Report American Financial Group, Inc. (AFG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research