Jefferies analyst Yaron Kinar raised the firm’s price target on Allstate (ALL) to $119 from $117 and keeps a Hold rating on the shares. In its Q3 earnings preview for the P&C Insurance/Insurtech group, the firm said it sees “upwards bias” to catastrophe-exposed names. In Personal, the firm expects year-over-year underlying underwriting improvement for Progressive (PGR) and Allstate along with rate momentum, the analyst tells investors.
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Read More on ALL:
- Allstate estimated catastrophe losses for the month of August of $551M
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- Some insurers might profit off catastrophic weather, Barron’s says
- Allstate estimates July catastrophe losses $313M or $247M, after-tax
- Early notable gainers among liquid option names on August 16th
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