BMO Capital Reiterates Outperform Rating on Allstate (ALL)

BMO Capital analyst Michael Zaremski reiterated an Outperform rating and $230.00 price target on Allstate (NYSE: ALL).

The analyst commented: "Allstate's 30bps April PIF miss vs. our estimate drives our 2025 growth estimate lower, to +2.6% (from +2.9%). ALL reported April Auto PIF of 25,175, +0.3% M/M (+75K), slightly shy of the consensus monthly +0.3% 2Q pace, and below BMO's monthly April PIF estimate of 25,252 (+0.6% M/M). We view the print as further shy of expectations when considering seasonality. Recall April historically is PGR's third-strongest PIF month (Exhibit 1), likely owing to tax refunds, which historically have driven shopping among less-preferred drivers, where we believe ALL's been disproportionately growing."

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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