# The Allstate Corporation (ALL)

> Source: Nexqual · https://nexqual.com/ALL · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, The Allstate Corporation (ALL), nexqual.com/ALL" · informational, not investment advice.

**Price:** USD 250.2 (-0.60% on the day) · last close of Oct 28, 2026; US market pre market, not a live price. Prev close 251.71 · day 249.21–252.38 · 52w 188.15–277.22 · market cap $63.3B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $70.1B, net income $13.3B (18.9% margin), free cash flow $12.2B (SEC filings).
- Valuation: P/E 4.8x (avg 8.3x at the last 2 fiscal year-ends).
- 3 of 80 tracked superinvestors hold ALL (13F, Q2 2026): 0 new, 1 added, 0 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $28.6M; 5 not under a Rule 10b5-1 plan ($28.6M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.72 on a 1–5 scale) (25 analysts), mean target USD 269.27 (range 191–340).
- Total return with dividends: 1Y +34.2% vs S&P 500 +13.6%; 5Y +127.7% vs S&P 500 +79.8%.
- Next earnings: 2026-11-04, EPS estimate USD 6.96, revenue estimate $17.5B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $50.6B | $51.4B | $57.1B | $64.1B | $67.7B | $70.1B |
| Net income | $1.61B | -$1.29B | -$188M | $4.67B | $10.3B | $13.3B |
| EPS (diluted) | $5.01 | -$5.14 | -$1.20 | $16.99 | $38.06 | — |
| Free cash flow | $4.77B | $4.70B | $3.96B | $8.72B | $9.88B | $12.2B |
| Net margin | 3.2% | -2.5% | -0.3% | 7.3% | 15.2% | 18.9% |
| Revenue growth | +20.7% | +1.6% | +11.1% | +12.3% | +5.6% | — |
| Cash + short-term investments | $4.77B | $4.91B | $5.87B | $5.24B | $5.57B | — |
| Total debt | $7.98B | $7.96B | $7.94B | $8.09B | $7.49B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 4.8x · P/S 0.9x · P/FCF 5.2x · P/B 1.9x · FCF yield 19.36% · Earnings yield 20.99% · Dividend yield (paid, TTM) 1.69% · Buyback yield (TTM) 3.89%
P/E at fiscal year-ends: Dec 2025 5.4x, Dec 2024 11.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold ALL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Thomas Gayner | Markel Group | 0.28% | $36.8M | Unchanged |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $617K | Unchanged |
| Sarah Ketterer | Causeway Capital Management | <0.01% | $263K | Added +10.2% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-11 | Rizzo Mario |  | 56,225 | $14.9M | 40.1% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-07 | Dugenske John E |  | 32,996 | $8.9M | 71.1% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-01 | Redmond Andrea | Director | 2,225 | $451K | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22 | Prindiville Mark Q |  | 1,550 | $335K | 5.3% | No | Too little history (no open-market trades in 2024) |
| 2026-05-01 | Rizzo Mario |  | 18,578 | $4.1M | 18.1% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.72 on a 1–5 scale), 25 analysts; mean target USD 269.27 (low 191, high 340).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Wells Fargo | Upgrade | Underweight → Equal-Weight | $250 → $236 |
| 2026-10-12 | Keefe, Bruyette & Woods | Target lowered | Underperform | $250 → $232 |
| 2026-10-07 | Mizuho | Target lowered | Outperform | $300 → $295 |
| 2026-10-07 | Barclays | Target lowered | Underweight | $226 → $221 |
| 2026-10-06 | Morgan Stanley | Target lowered | Equal-Weight | $265 → $240 |
| 2026-10-02 | Citigroup | Target lowered | Sell | $240 → $215 |
| 2026-10-01 | Goldman Sachs | Target lowered | Neutral | $280 → $250 |
| 2026-09-18 | Mizuho | Target raised | Outperform | $297 → $300 |
| 2026-09-16 | Mizuho | Target lowered | Outperform | $300 → $297 |
| 2026-08-28 | Argus Research | Downgrade | Buy → Hold |  |
| 2026-08-20 | Keefe, Bruyette & Woods | Downgrade | Market Perform → Underperform | $255 → $250 |
| 2026-08-13 | BMO Capital | Target raised | Buy | $250 → $284 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +34.2% | +127.7% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +34.4% | +17.9% |
| Volatility (annualized) | 25.4% | 25.8% |
| Max drawdown | -19.0% (Aug 2026→Sep 2026) | -27.4% (Jan 2023→Jul 2023) |

## Peers (Insurance - Property & Casualty)
TRV (The Travelers Companies, Inc.) USD 394.01 -0.76% · PGR (Progressive Corporation (The)) USD 225.66 +0.03% · CB (Chubb Limited) USD 355.5 -0.21% · CINF (Cincinnati Financial Corporatio) USD 179.39 -1.11% · WRB (W.R. Berkley Corporation) USD 71.63 -1.04% · MKL (Markel Group Inc.) USD 1,844.76 -0.75%

## More
Full page: https://nexqual.com/ALL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Protection Services | $961.0M | 5.2% | +10.7% |
| Corporate | $139.0M | 0.7% | +31.1% |
| Total revenue | $18.60B | 100% | — |
The lines above cover 5.9% of total revenue.

## Company outlook (8-K filed 2026-08-05)

- "The overall portfolio allocation to performance-based assets provides a diversifying source of attractive long-term returns; quarterly volatility in reported results is expected. ◦ Net gains on investments and derivatives were $1.1 billion in the second quarter of 2026, compared to losses of $144 million in the prior year quarter."
- "Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com . 5 Exhibit 99.1 Forward-Looking Statements This news release contains "forward-looking statements" that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $6.96 | $5.99 | +16.3% | $17.46B | 21 |
| Next quarter (ends 2026-12-31) | $9.40 | $8.67 | +8.5% | $17.62B | 19 |
| Current fiscal year (ends 2026-12-31) | $35.96 | $31.30 | +14.9% | $70.19B | 23 |
| Next fiscal year (ends 2027-12-31) | $28.11 | $26.51 | +6.1% | $72.68B | 22 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $8.99 | $6.07 | Beat +48.1% | — |
| — | Quarter ended Mar 31, 2026 | $10.65 | $7.24 | Beat +47.1% | — |
| — | Quarter ended Dec 31, 2025 | $14.31 | $9.86 | Beat +45.1% | — |
| — | Quarter ended Sep 30, 2025 | $11.17 | $7.54 | Beat +48.1% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-15 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/899051/000089905126000150/0000899051-26-000150-index.htm |
| 2026-09-17 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/899051/000089905126000135/0000899051-26-000135-index.htm |
| 2026-08-20 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/899051/000089905126000127/0000899051-26-000127-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/899051/000089905126000118/0000899051-26-000118-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/899051/000089905126000117/0000899051-26-000117-index.htm |
| 2026-07-16 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/899051/000089905126000111/0000899051-26-000111-index.htm |
| 2026-07-14 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure — “The Allstate Corporation today announced that effective August 3, 2026, Christian M. Lown will join Allstate as Executive Vice President and Chief Financial Officer of The Allstate Corporation and Allstate Insurance Company. Prior to joining Allstate, Mr. Lown, age 56, served as the chief financial officer of CoStar Group, Inc. from July 2024 to July 2026 and executive vice president and chief financial officer of the Federal Home Loan Mortgage Corporation (Freddie Mac) from June 2020 to June 2024. Mr. Lown holds…” | https://www.sec.gov/Archives/edgar/data/899051/000089905126000109/0000899051-26-000109-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.