Sumitomo Life Insurance Co. Purchases New Position in The Allstate Corporation $ALL

Key Points

• Sumitomo Life Insurance acquired 5,627 Allstate shares worth approximately $1.34 million in the second quarter, while institutional investors collectively own 76.47% of the stock.
• Allstate reported strong quarterly results, with EPS of $8.99 exceeding estimates of $6.06 and revenue rising 11.8% year over year to $18.6 billion. The company also declared a quarterly dividend of $1.08 per share, equivalent to a 1.7% yield.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $265.26, while catastrophe losses, including $682 million in July, and insider stock sales pose concerns.

Sumitomo Life Insurance Co. purchased a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,627 shares of the insurance provider's stock, valued at approximately $1,339,000.

Several other hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 valued at $112,533,000 after acquiring an additional 26,586 shares during the period. Strategic Global Advisors LLC raised its holdings in Allstate by 19.2% in the 4th quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider's stock worth $10,175,000 after purchasing an additional 7,870 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in Allstate by 130.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider's stock worth $4,016,000 after purchasing an additional 10,936 shares during the period. CIBC Asset Management Inc boosted its position 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 purchasing an additional 25,764 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after purchasing an additional 596,321 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent analyst reports. HSBC cut Allstate from a "buy" rating to a "hold" rating and boosted their price objective for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Weiss Ratings upgraded Allstate from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, August 6th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research note on Wednesday, July 15th. Raymond James Financial reissued a "strong-buy" rating and issued a $315.00 price target on shares of Allstate in a report on Tuesday, August 11th. Finally, Piper Sandler upped their price objective on shares of Allstate from $268.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $265.26.

Key Headlines Impacting Allstate

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

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction on 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 completion of the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 91,446 shares of company stock valued at $24,208,675 over the last 90 days. 1.55% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

NYSE ALL opened at $253.82 on Friday. The company has a market cap of $64.18 billion, a PE ratio of 5.07, a price-to-earnings-growth ratio of 0.39 and a beta of 0.16. The stock's 50 day simple moving average is $250.34 and its 200-day simple moving average is $224.95. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

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

Allstate Announces Dividend

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

Allstate 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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