Allstate Corp
ALL: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$882.00 | Kqlh | Cxlhgrjbn |
Allstate Earnings: Headwinds Ease
Allstate still faces some significant issues, but overall headwinds appeared to ease in the third quarter. The company recorded a modest $41 million loss in the quarter, largely due to elevated catastrophe losses of $1.2 billion. We will maintain our $122 fair value estimate for the no-moat company and see shares as roughly fairly valued.