Analyst Joshua Shanker from Bank of America Securities reiterated a Buy rating on Allstate (ALL – Research Report) and increased the price target to $286.00 from $279.00.
Joshua Shanker has given his Buy rating due to a combination of factors that highlight Allstate’s strong financial performance and potential for growth. The company reported a significant earnings per share (EPS) beat in the first quarter of 2025, driven by better-than-expected underwriting margins and favorable prior-year loss reserve developments. These results were achieved despite the challenges posed by extreme catastrophe losses, such as the LA wildfires.
Furthermore, Allstate’s strategic management of expenses, including a reduction in advertising spend, contributed to improved financial metrics. The increase in new policy applications and a stable auto policy count also indicate positive momentum in their core business operations. Shanker has adjusted his EPS forecasts upwards for the coming years, reflecting confidence in Allstate’s ability to maintain strong returns on equity. The price objective of $286 suggests significant upside potential from the current stock price, reinforcing the Buy recommendation.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $230.00 price target.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALL in relation to earlier this year.