Allstate Corp

ALL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$397.00	Nmsbp	Xtmpvjl

Allstate’s Fourth Quarter Is a Rough End to a Rough Year

Brett Horn

Feb 2, 2023

Allstate previously announced preliminary fourth-quarter results, and we don’t see any major surprises in the full statements. Allstate continues to struggle with difficult market conditions in auto lines, and this headwind, plus a relatively high level of catastrophe losses, pushed the company to a $310 million loss for the quarter. We will maintain our $125 fair value estimate for the no-moat company.

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