Allstate Downgraded to 'In Line' by Evercore ISI Despite Strong Q2 Performance and Customer Growth

The Allstate Corporation (NYSE:ALL) is one of the most undervalued stocks to buy and hold for 5 years. On October 1, Evercore ISI downgraded Allstate to In Line from Outperform with a price target of $233, up from $230. This sentiment came prior to the company’s Q3 2025 earnings report. Earlier for Q2, Allstate reported $16.6 billion in revenue, which marked a 5.8% increase year-over-year.

Net income reached $2.1 billion, while adjusted net income was $1.6 billion. Allstate also grew its customer base and increased total policies in force by 4.2% to 208 million. The company’s Property-Liability segment demonstrated robust underwriting performance, generating ~$1.3 billion in underwriting income and achieving a combined ratio of 91.1%, which is a 10-point improvement from the prior-year quarter.

The Protection Services segment, which includes Allstate Protection Plans, reported revenues of $867 million for the quarter, generating $60 million in income. The segment’s revenue increased by 16.6% over the prior year, highlighting rapid growth in appliance protection and international expansion.

The Allstate Corporation (NYSE:ALL) provides property and casualty, and other insurance products in the US and Canada. It operates in five segments: Allstate Protection, Run-off Property-Liability, Protection Services, Allstate Health & Benefits, and Corporate & Other.

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Disclosure: None. This article is originally published at Insider Monkey.