Allstate Price Targets Raised to $228 and $263 After Q4 Beat
Wells Fargo raised Allstate’s price target to $228 from $223 while JPMorgan lifted its target to $263 from $260, maintaining equal-weight and overweight ratings respectively. Allstate reported Q4 revenue of $17.3B against $17.29B estimates, full-year net income of $10.2B and 210.9M policies in force.
1. Analyst Price Target Increases
A Wells Fargo analyst lifted Allstate’s price target to $228 from $223 while a JPMorgan analyst raised its target to $263 from $260, retaining equal-weight and overweight ratings on the shares.
2. Fourth-Quarter Financial Performance
Allstate generated $17.3 billion in Q4 revenue, slightly above the $17.29 billion consensus, and delivered full-year net income of $10.2 billion (adjusted $9.3 billion), reflecting continued margin recovery.
3. Policy Growth and Premium Adjustments
Total policies in force rose 3% year-over-year to 210.9 million, and Allstate reduced premiums for 7.8 million auto and homeowners customers by an average of 17% through coverage adjustments.