Bank of Nova Scotia Makes New $21.56 Million Investment in The Allstate Corporation $ALL

Key Points

• Bank of Nova Scotia acquired 90,608 Allstate shares in the second quarter, valued at approximately $21.56 million. Institutional investors collectively own 76.47% of Allstate’s stock.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $265.26, alongside upgrades from some firms and downgrades from others.
• Allstate reported strong quarterly results, with EPS of $8.99 exceeding estimates of $6.06 and revenue rising 11.8% year over year. The company also declared a quarterly dividend of $1.08, equivalent to a 1.7% annualized yield.

Bank of Nova Scotia purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 90,608 shares of the insurance provider's stock, valued at approximately $21,559,000.

A number of other institutional investors also recently modified their holdings of ALL. Gables Capital Management Inc. acquired a new position in Allstate during the second quarter worth $26,000. Allied Private Wealth LLC acquired a new stake in Allstate in the 2nd quarter valued at $29,000. Kelleher Financial Advisors bought a new stake in Allstate during the 2nd quarter worth about $28,000. MV Capital Management Inc. acquired a new position in shares of Allstate during the 4th quarter worth about $25,000. Finally, Navalign LLC bought a new position in shares of Allstate in the 4th quarter valued at about $27,000. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on ALL shares. Wells Fargo & Company cut Allstate from an "equal weight" rating to an "underweight" rating and increased their price target for the company from $243.00 to $250.00 in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $250.00 price objective (down from $255.00) on shares of Allstate in a research note on Thursday. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Finally, Morgan Stanley set a $265.00 target price on shares of Allstate in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $265.26.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company's stock, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 91,446 shares of company stock valued at $24,208,675. 1.55% of the stock is owned by company insiders.

Allstate Price Performance

Shares of ALL opened at $253.82 on Monday. The company's 50-day moving average is $250.34 and its 200-day moving average is $225.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $64.18 billion, a PE ratio of 5.07, a PEG ratio of 0.39 and a beta of 0.16. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analysts' expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $5.94 EPS. Equities analysts forecast that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate's dividend payout ratio is 8.63%.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Zacks Research raised several Allstate EPS forecasts, including estimates for Q3 2026, FY2027, FY2028, Q1 2027, Q4 2027 and Q2 2028. Zacks maintains a “Strong-Buy” rating, supporting the view that underwriting performance and earnings power may remain resilient. Allstate earnings estimates
• Positive Sentiment: A Zacks screen identified ALL as a high-return-on-equity, cash-rich stock that could appeal to investors seeking quality and financial strength during volatile markets. High-ROE stocks article
• Neutral Sentiment: Allstate opened a new Dallas auto laboratory to train claims adjusters on increasingly complex vehicle technology. The initiative could improve claims accuracy and customer service over time, but it is unlikely to materially affect near-term earnings. Allstate Dallas auto lab
• Negative Sentiment: Keefe, Bruyette & Woods downgraded ALL from “hold” to “moderate sell,” adding to investor caution around the stock’s valuation and outlook. Allstate analyst downgrade
• Negative Sentiment: Allstate estimated July catastrophe losses of $682 million pretax, or $539 million after tax. The losses bring pretax catastrophe costs for the current aggregate year to approximately $2.402 billion, creating pressure on underwriting margins and near-term earnings. Allstate July 2026 monthly release
• Negative Sentiment: Zacks Research lowered its Q2 2027 and Q4 2026 EPS estimates, indicating that analysts still see some periods of earnings pressure despite upward revisions elsewhere. Allstate earnings estimates

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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