Wells Fargo Raises its Price Target on The Allstate Corporation (ALL) to $228

Group 1 - The Allstate Corporation (NYSE:ALL) is recognized as one of the 10 Most Profitable Undervalued Stocks to Buy [1] - Wells Fargo analyst Elyse Greenspan raised the price target for Allstate to $228 from $223, maintaining an Equal Weight rating, citing stock movement due to positioning dynamics and outperformance in the property and casualty insurance sector [1][8] - JPMorgan analyst Jimmy Bhullar increased the price target to $263 from $260 while reiterating an Overweight rating, highlighting healthy business trends from the recent quarter [2] Group 2 - For the fourth quarter, Allstate reported revenue of $17.3 billion, slightly exceeding consensus estimates of $17.29 billion, with full-year revenue reaching $67.7 billion and net income totaling $10.2 billion [3] - The total policies in force increased to 210.9 million, reflecting a 3.0% year-over-year growth, supported by broad distribution and product offerings [4] - The company reduced premiums for 7.8 million auto and homeowners customers by an average of 17% through coverage adjustments [4] Group 3 - Allstate provides property and casualty insurance and related products across the United States and Canada, operating through segments including Allstate Protection, Protection Services, Health and Benefits, and other ancillary businesses [5]