Allstate shares have three likely catalysts, says Keefe Bruyette

Keefe Bruyette keeps an Outperform rating on Allstate with a $194 even though the firm believes the underwriting margin repair thesis has largely played out. Three likely catalysts – recovering organic policies in force growth, resumed share repurchases, and a Health and Benefits segment sale – “should individually, if not collectively, sustain share price outperformance over the next 12 months,” the analyst tells investors in a research note. As such, Keefe remain optimistic about Allstate’s shares.