Allstate Corp Increases Stock Position in Block, Inc. $XYZ

Key Points

• Allstate Corp nearly doubled its stake in Block during the fourth quarter, increasing holdings by 91.9% to 39,281 shares valued at about $2.56 million.
• Wall Street sentiment on Block remains generally positive, with several analysts raising targets and the stock carrying an overall “Moderate Buy” rating and average price target of $84.97.
• Block reported stronger-than-expected Q1 results, posting EPS of $0.85 versus the $0.30 estimate and revenue of $6.06 billion, while also issuing Q2 2026 and FY 2026 guidance.

Allstate Corp increased its holdings in shares of Block, Inc. (NYSE:XYZ - Free Report) by 91.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,281 shares of the technology company's stock after purchasing an additional 18,812 shares during the period. Allstate Corp's holdings in Block were worth $2,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Block in the 3rd quarter worth approximately $28,000. Sound Income Strategies LLC grew its holdings in Block by 57.1% in the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Block in the third quarter worth $30,000. Rachor Investment Advisory Services LLC purchased a new position in Block in the fourth quarter worth $32,000. Finally, Rothschild Investment LLC grew its holdings in Block by 59.7% in the third quarter. Rothschild Investment LLC now owns 495 shares of the technology company's stock worth $36,000 after purchasing an additional 185 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on XYZ shares. Rothschild & Co Redburn raised shares of Block from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $45.00 to $55.00 in a report on Wednesday, March 18th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Block in a report on Friday, May 8th. Wall Street Zen raised shares of Block from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Citigroup boosted their target price on shares of Block from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Truist Financial boosted their target price on shares of Block from $81.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $84.97.

Insider Transactions at Block

In other news, insider Chrysty Esperanza sold 3,000 shares of Block stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total value of $225,000.00. Following the sale, the insider directly owned 268,169 shares of the company's stock, valued at $20,112,675. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Owen Britton Jennings sold 3,555 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total value of $225,422.55. Following the sale, the insider owned 231,262 shares of the company's stock, valued at $14,664,323.42. The trade was a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 49,485 shares of company stock worth $3,573,346. 11.37% of the stock is owned by insiders.

Block Stock Performance

XYZ opened at $71.35 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a fifty day moving average price of $66.32 and a 200 day moving average price of $63.64. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $82.50. The stock has a market cap of $42.46 billion, a P/E ratio of 55.74, a P/E/G ratio of 0.91 and a beta of 2.57.

Block (NYSE:XYZ - Get Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The firm had revenue of $6.06 billion during the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. Equities research analysts anticipate that Block, Inc. will post 2.4 earnings per share for the current year.

Block Company Profile

Block NYSE: XYZ is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.

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