Baxter Bros Inc. Invests $1.40 Million in The Allstate Corporation $ALL

Key Points

• Baxter Bros Inc. acquired a new $1.4 million stake in Allstate during the second quarter, purchasing 5,884 shares. Institutional investors and hedge funds collectively own 76.47% of the insurer.
• Allstate reported quarterly EPS of $8.99, surpassing the $6.06 analyst consensus, while revenue increased 11.8% year over year to $15.43 billion. The company also declared a quarterly dividend of $1.08 per share, representing a 1.7% yield.
• Analyst sentiment remains mixed: several firms raised price targets, but Citigroup downgraded the stock to “sell,” and the overall consensus rating is “Hold” with an average target of $265.53. Insiders sold nearly $24.5 million of shares over the past 90 days.

Baxter Bros Inc. bought a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,884 shares of the insurance provider's stock, valued at approximately $1,400,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider's stock worth $112,533,000 after buying an additional 26,586 shares in the last quarter. Strategic Global Advisors LLC boosted its stake in shares of Allstate by 19.2% in the fourth quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider's stock valued at $10,175,000 after buying an additional 7,870 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of Allstate by 130.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider's stock valued at $4,016,000 after buying an additional 10,936 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Allstate by 69.2% during the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider's stock worth $13,116,000 after acquiring an additional 25,764 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Allstate during the fourth quarter worth $161,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Down 0.1%

NYSE:ALL opened at $261.26 on Monday. The company has a market capitalization of $66.06 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The stock has a fifty day simple moving average of $246.52 and a 200-day simple moving average of $223.02.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts' consensus estimates of $6.06 by $2.93. The firm had revenue of $15.43 billion for the quarter, compared to analysts' expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm's revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $5.94 EPS. On average, equities research analysts expect that The Allstate Corporation will post 33.92 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 32,996 shares of Allstate stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 92,996 shares of company stock worth $24,543,894 over the last ninety days. 1.55% of the stock is currently owned by company insiders.

Key Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Analyst earnings estimates were raised. Dowling & Partners increased its FY2026 EPS estimate for Allstate to $35.50 from $30.50, reinforcing expectations for continued profitability. FY2026 EPS estimates article
• Positive Sentiment: JPMorgan reportedly expects further upside. The analyst maintained an overweight rating and raised its price target to $292 from $282, supporting the bullish case following Allstate’s recent earnings beat. JPMorgan analyst article
• Positive Sentiment: Allstate is investing in quantum computing. CEO Tom Wilson said the insurer plans to expand its current 10-person quantum team so it can build expertise and potentially gain a competitive advantage as the technology matures. The investment is strategically positive, although financial benefits are likely long term. Allstate quantum computing article
• Positive Sentiment: Claims operations are receiving additional investment. Allstate opened a 33,000-square-foot training campus in Dallas for its 23,000 claims professionals. Improved claims accuracy and customer service could support retention and operating efficiency. Allstate Claims University announcement
• Neutral Sentiment: Recent earnings remain a major backdrop. Allstate’s latest quarter produced $8.99 in EPS versus the $6.06 consensus estimate, while revenue rose 11.8% year over year to $15.43 billion. However, the stock is trading near its 52-week high, increasing sensitivity to any signs that profitability may moderate.
• Negative Sentiment: Insiders sold substantial holdings. COO Mario Rizzo sold 56,225 shares for approximately $14.9 million, reducing his direct position by 40.6%. Separate reports also disclosed a sizable sale by John Dugenske, potentially weighing on investor sentiment. Allstate insider sales article
• Negative Sentiment: Allstate lost an Ontario coverage challenge. Definity prevailed in court over Allstate’s excluded-driver coverage position, creating a potential legal and claims-related concern in the Canadian market. Ontario court coverage challenge article
• Negative Sentiment: Valuation concerns remain. One analysis argues Allstate’s share price assumes a 94.1% combined ratio that the company has never sustained, raising questions about whether its recent operating returns can persist.

Analysts Set New Price Targets

A number of research firms have commented on ALL. Raymond James Financial reissued a "strong-buy" rating and issued a $315.00 target price on shares of Allstate in a report on Tuesday, August 11th. Piper Sandler upped their price target on shares of Allstate from $268.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Citigroup cut shares of Allstate from a "neutral" rating to a "sell" rating and raised their price objective for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Allstate from $242.00 to $255.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $265.53.

Allstate Company Profile

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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