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Saturday, Aug 31
Investors in good hands with Allstate shares: Barron's
- "At just 1.1 times book value, less than half that of Progressive and 9.3 times [FY14] estimates of $5.14/ share," Allstate (ALL) "remains cheap," Barron's says.
- The company has reorganized into four segments: Namesake products sold by its network of agents, the Esurance platform, the Encompass group (which attempts to address affluent customers' "full range of insurance needs"), and Answer Financial (which offers online customers product choices from a variety of carriers).
- Ultimately, Robin Goldwyn Blumenthal says the "benefits of [the] reorganization will become more apparent to investors and more profitable to the company" over the next several years.
- Barron's sees a possible 50% upside for the stock going forward.