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ALL · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is The Allstate Corporation (ALL) stock moving?
Allstate reported Q3 2026 results in an 8-K filed Nov 4, followed by a call on Nov 5. The stock rose to a $269.06 close on Nov 4, then spiked to a $281.11 high on Nov 5 on about 3.3M shares, roughly twice the two-week average, but closed lower at $266.72. The stock fell 4.5% to $254.81 on Nov 6, the day HSBC downgraded it to Hold with a $271 target and Citigroup kept a Sell. It held near $251-254 through Nov 9 and rebounded 2.9% to $261.12 on Nov 10 on about 1.3M shares, close to the 30-day VWAP of about $260. Across the 30-day window the stock has ranged from $249.21 to $281.11, with support near $250-254 and resistance around $269-281. Post-earnings analyst activity is mixed: most firms raised price targets, with targets spanning roughly $225 (Barclays, Citi) to $297 (Jefferies), and the average of those published is about $265, a little above the current price. Ratings lean cautious, with one Overweight (Piper Sandler), several Neutral or Hold ratings (UBS, Morgan Stanley, Wells Fargo, HSBC), and three negative ones (KBW Underperform, Citi Sell, Barclays Underweight). The filings give no earnings figures, so the results themselves cannot be assessed from the provided material. Overall, the evidence is conflicting and the stock is roughly fairly valued by the sell side.
News behind the analysis
- UBS Maintains Neutral on Allstate, Raises Price Target to $283UBS kept its Neutral rating on Allstate and raised its price target to $283 after the Q3 2026 report.
- Morgan Stanley Adjusts Price Target on Allstate to $260 From $240Morgan Stanley kept its Equal-Weight rating and raised its price target to $260 from $240.
- Keefe, Bruyette & Woods Maintains Underperform on Allstate, Raises Price Target to $241KBW kept its Underperform rating on Allstate and raised its price target to $241.
- Piper Sandler Maintains Overweight on Allstate, Lowers Price Target to $294Piper Sandler kept its Overweight rating but trimmed its price target to $294 from $300.
- Citigroup Maintains Sell on Allstate, Raises Price Target to $225Citigroup kept its Sell rating on Allstate and raised its price target to $225.
- HSBC Downgrades Allstate to HoldHSBC downgraded Allstate to Hold with a $271 price target.
- Allstate Q3 2026 Earnings Call TranscriptAllstate reported third-quarter 2026 financial results on Nov 5, with the earnings call transcript now available.
- Barclays Maintains Underweight on Allstate, Raises Price Target to $228Barclays kept its Underweight rating and raised its price target to $228 from $221 after the earnings report.
- Goldman Sachs and Evercore ISI Adjust Allstate Price TargetsGoldman Sachs raised its Allstate price target to $275 from $250 following the Q3 report, and Evercore ISI also updated its target.
- Jefferies Adjusts Price Target on Allstate to $297 From $292Jefferies raised its price target on Allstate to $297 from $292.
About The Allstate Corporation
Allstate is one of the largest US personal-lines insurers. It is based in Northbrook, Illinois, and mainly sells auto and homeowners insurance under the Allstate brand and others such as National General. It stands out for reaching customers through many channels at once (exclusive agents, independent agents and direct sales) and for running a fast-growing Protection Plans business, which sells consumer product warranties, alongside its core insurance.
How it makes money
Most of its revenue, roughly $68 billion in 2025, comes from premiums on auto and homeowners insurance. Auto is the largest single line. Its profit depends on underwriting margins, meaning premiums collected minus claims and expenses. It also earns investment income from a portfolio of about $88 billion and smaller amounts from Protection Services (product warranties, roadside assistance and identity protection) and some health and benefits products. It has sold most of its life insurance and some of its benefits businesses.
What usually moves ALL
- Catastrophe losses from storms, wildfires and hail
- Auto claim costs (repair prices, accident frequency, medical costs)
- Approval of rate increases and premium pricing
- Growth in the number of policies in force
- Interest rates and investment income