Bank of America Comments on Allstate Following Investor Day

At its first analyst day in over a decade, Allstate ALL unveiled a 13% consolidated targeted 2014 ROE, Bank of America reports. “The key drivers of the ROE improvement are better returns in the homeowners and the life operations,” Bank of America writes. “Capital management should continue (as we have modeled). We assume that Allstate's ROE approaches 11% for 2013. Although much of the strategies being utilized to achieve the ROE goal are not new, we perceive an even greater sense of urgency.” Allstate closed Wednesday at $30.44.