Keefe, Bruyette & Woods Reiterates Outperform Rating on Allstate (ALL)

Keefe, Bruyette & Woods analyst Meyer Shields reiterated an Outperform rating and $235.00 price target on Allstate (NYSE: ALL).

The analyst commented: "This morning, ALL announced $594 million of April catastrophe losses ($469 million, after-tax), bringing the YTD total to $2.8 billion. We maintain our 2Q25E catastrophe losses at $2.17 billion, leaving room for $1.58 billion of May and June catastrophe losses. ALL's monthly PIF figures show a continued deceleration in auto y/y PIF decreases (April: -0.1%; March 2025: -0.4%; February 2025: -0.9%; January 2025: -1.3%;), reinforcing our confidence in positive PIF growth in 2025, very likely in 2Q25. We maintain our 2025E/2026E EPS at $17.75/$20.90, assuming slightly higher PIF growth and slightly smaller average premium increases. We maintain our $235 (11.0x our 2026E EPS) target price and Outperform rating."

For an analyst ratings summary and ratings history on Allstate click here. For more ratings news on Allstate click here.

Shares of Allstate closed at $205.27 yesterday.

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