BofA update shows where active managers are putting money
Investing.com - Wells Fargo (NYSE:WFC) has raised its price target on Allstate (NYSE:ALL) to $202.00 from $197.00 while maintaining an Equal Weight rating on the insurance company’s stock. Trading at $203.03, InvestingPro analysis suggests the stock remains undervalued, with 9 analysts recently revising earnings estimates upward.
The research firm cited several factors affecting Allstate’s policies-in-force (PIF) growth in its analysis, including ongoing declines in New York and New Jersey markets.
Wells Fargo also noted that Allstate’s consolidation of the Esurance and Encompass brands is impacting current policy growth metrics.
The firm identified the company’s transformative growth initiative and the rollout of new products as additional elements influencing Allstate’s performance.
According to Wells Fargo, Allstate did not provide specific timing for when PIF growth would turn positive, with the research firm viewing policy growth as the most significant potential driver for the stock’s future performance.
In other recent news, Allstate Corp delivered impressive financial results for the second quarter of 2025. The company’s earnings per share (EPS) reached $5.94, significantly outperforming the anticipated $3.32, resulting in a notable 78.92% earnings surprise. Revenue also surpassed expectations, coming in at $16.6 billion against the forecasted $15.22 billion. These financial achievements have caught the attention of the market and investors alike. The robust earnings and revenue figures indicate strong operational performance for the quarter. Analysts have taken note of these developments, with some firms adjusting their outlooks on Allstate’s stock. The company’s ability to exceed projections highlights its current financial health and operational efficiency. These recent developments underscore Allstate’s position in the market and its potential trajectory moving forward.
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