Allstate Corp
ALL: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$855.00 | Ztjnh | Wdwykfz |
Allstate Earnings: Getting Back on Track
Allstate’s first-quarter results were encouraging, as the company continues to move the past the underwriting issues that have plagued it over the past couple of years. The adjusted annualized return on equity of 11% in the quarter suggests the no-moat company has brought returns back to an acceptable level. We will maintain our $130 fair value estimate.