Allstate (ALL) Stock Still Looks Undervalued Despite Fresh Catastrophe Losses

Allstate has had a strong three year run punctuated by a recent pullback, which puts fresh focus on whether the current share price still lines up with what its earnings can justify. After a rapid climb and a sharp setback in a short span, the question for investors is how much of the insurer's earnings power is already reflected in today's valuation. Over the past three years the stock has returned 117.2%, which raises the question of how much future earnings strength the market may already...