Evercore ISI noted it is no longer as differentiated on earnings per share, with only about 2.5% upside versus more than 4% previously, as it no longer anticipates margin upside in 2026 and 2027. The firm explained that with both Evercore and the broader market now assuming Allstate is over-earning in auto insurance in 2026-2027, there is less potential for positive estimate revisions compared to earlier this year. While acknowledging that Allstate stock remains inexpensive compared to historical valuations, Progressive, and the equal-weight S&P, Evercore ISI expressed doubt about further rerating due to slower-than-usual earnings growth expectations over the next two years as margins normalize. In other recent news, Allstate Corporation reported $213 million in catastrophe losses for August, which translates to $168 million after-tax, or approximately $0.63 per share. These losses were primarily due to ten events, with the majority resulting from three wind and hail storms.