Analyst Consensus ?
ConsensusHold45 ratings
Bullish1840.0%
Neutral2351.1%
Bearish48.9%
The Allstate Corporation · ALL · FY2026 Q2 · Calendar Q3 2026
Allstate Q2: Underwriting and investment income strengthen results
The supplied analysis supports a constructive but conditional view: Allstate’s improved underwriting, stronger investment income, market-share gains, and technology strategy strengthen the earnings narrative. The case depends on disciplined execution of Ally AI and customer-cloud initiatives while claim severity, competition, cybersecurity, and capital-allocation risks remain contained.
Reported After market closeNYSEFinancial Services
$62.52B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$8.99
Consensus $6.06
EPS surprise
+48.3%
Reported versus consensus
Reported revenue
$15.43B
Consensus $15.46B
Revenue surprise
-0.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+4.0%
Event window
SPY move
-0.2%
Same window
Abnormal move
+4.1%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
-4.4%
Up to 20 sessions
ALLSPY benchmark
Ask FN2 about ALL FY2026 Q2
Transcript, numbers and history already loaded
Why did ALL rise 4.0% after beating EPS estimates in FY2026 Q2?What changed in ALL's guidance and outlook in FY2026 Q2?Give me the bull and bear case for ALL after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Versus the prior-quarter analysis, the emphasis shifted to Q2 underwriting improvement, a 33.8% increase in net investment income, the scale of the Ally AI ecosystem, connected-customer-cloud deployment, and expanded Protection Services partnerships. The supplied analysis also identifies $1.3 billion of repurchases and a $9.5 billion deployable capital base.
Guidance delta
No formal guidance was provided in the supplied analysis; the discussion emphasized execution of technology, product, distribution, and capital-allocation plans.
Key takeaways
- Property-Liability combined ratio improved 4.5 points to 86.6%, generating $2 billion of underwriting income.
- Net investment income rose 33.8% to $1 billion.
- Management positioned the Ally AI platform and analytics as tools to improve pricing and claims efficiency.
- Capital generation supported $1.3 billion of share repurchases and a $9.5 billion deployable capital base.
- Protection Services is expanding through retail and dealer partnerships.
Management priorities
- Deploy the Ally AI ecosystem across underwriting, pricing, and distribution.
- Launch an enterprise customer acquisition system and connected customer cloud.
- Introduce updated homeowners rating plans and continue product bundling.
- Expand Protection Services through retail and dealer partnerships.
- Continue share repurchases while evaluating acquisition opportunities.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$229.21Current
$119Low
$236.9Average
$319High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Sep 18, 2026 |
| Argus Research | Hold | Buy | Downgrade | Aug 28, 2026 |
| Keefe, Bruyette & Woods | Underperform | Market Perform | Downgrade | Aug 20, 2026 |
| BMO Capital | Buy | Buy | Maintain | Aug 13, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 11, 2026 |
| Citigroup | Sell | Neutral | Downgrade | Aug 11, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 10, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 10, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Aug 10, 2026 |
| Wells Fargo | Underweight | Equal Weight | Downgrade | Aug 7, 2026 |
| Freedom Broker | Buy | Hold | Upgrade | Aug 7, 2026 |
| Roth MKM | Buy | Buy | Maintain | Aug 6, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Aug 6, 2026 |
| Barclays | Underweight | Underweight | Maintain | Aug 6, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Jul 9, 2026 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 6, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 6, 2026 |
| HSBC | Hold | Buy | Downgrade | Jul 6, 2026 |
| TD Cowen | Hold | Buy | Downgrade | Jan 12, 2026 |
| William Blair | Market Perform | Outperform | Downgrade | Dec 18, 2025 |
| Roth Capital | Buy | Buy | Maintain | Nov 26, 2025 |
| Jefferies | Buy | Buy | Maintain | Aug 11, 2025 |
| B of A Securities | Buy | Buy | Maintain | Oct 18, 2024 |
| CFRA | Hold | Buy | Downgrade | Oct 21, 2022 |
| MKM Partners | Buy | Buy | Maintain | Oct 20, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 28, 2022 |
| Wolfe Research | Perform | Peer Perform | Maintain | Aug 17, 2021 |
| Deutsche Bank | Hold | Hold | Maintain | May 13, 2021 |
| Buckingham Research | Neutral | Neutral | Maintain | Sep 12, 2019 |
| Buckingham | Neutral | Neutral | Maintain | Sep 12, 2019 |
| Compass Point | Buy | Buy | Maintain | Jan 15, 2019 |
| B. Riley Securities | Neutral | Neutral | Maintain | Aug 7, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | Aug 7, 2018 |
| Argus | Buy | Buy | Maintain | May 9, 2018 |
| Keefe Bruyette & Woods | Market Perform | Underperform | Upgrade | Apr 2, 2018 |
| Bank of America | Buy | Buy | Maintain | Feb 8, 2018 |
| Macquarie | Neutral | Outperform | Downgrade | Apr 19, 2017 |
| Nomura | Neutral | Neutral | Maintain | Feb 4, 2016 |
| PiperJaffray | Overweight | Overweight | Maintain | Oct 15, 2015 |
| Sandler O'Neill | Buy | Hold | Upgrade | Sep 21, 2015 |
| RBC Capital | Sector Perform | Outperform | Downgrade | Aug 4, 2015 |
| FBR Capital | Market Perform | Market Perform | Maintain | Oct 1, 2014 |
| Guggenheim | Buy | Buy | Maintain | Sep 18, 2013 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Sep 27, 2012 |
| Drexel Hamilton | Hold | Hold | Maintain | Aug 1, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $229.21. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Analyst unavailable | $300 | $252.21 | +30.9% | Sep 18, 2026 |
| Mizuho Securities | Analyst unavailable | $297 | $257.21 | +29.6% | Sep 16, 2026 |
| Argus Research | Kevin Heal | $238 | $257.62 | +3.8% | Aug 28, 2026 |
| Morgan Stanley | Analyst unavailable | $265 | $267.77 | +15.6% | Aug 11, 2026 |
| Raymond James | Analyst unavailable | $315 | $266.31 | +37.4% | Aug 11, 2026 |
| UBS | Analyst unavailable | $275 | $271.07 | +20.0% | Aug 10, 2026 |
| Goldman Sachs | Robert Cox | $280 | $275.11 | +22.2% | Aug 7, 2026 |
| Wells Fargo | Analyst unavailable | $250 | $275.11 | +9.1% | Aug 7, 2026 |
| Roth Capital | Analyst unavailable | $300 | $264.59 | +30.9% | Aug 6, 2026 |
| Barclays | Alex Scott | $226 | $264.59 | -1.4% | Aug 6, 2026 |
| Roth Capital | Analyst unavailable | $275 | $248.55 | +20.0% | Jul 17, 2026 |
| Atlantic Equities | Analyst unavailable | $319 | $240.55 | +39.2% | Jul 15, 2026 |
| UBS | Analyst unavailable | $261 | $250.35 | +13.9% | Jul 15, 2026 |
| Evercore ISI | David Motemaden | $240 | $250.59 | +4.7% | Jul 10, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $242 | $249.27 | +5.6% | Jul 9, 2026 |
| Mizuho Securities | Analyst unavailable | $272 | $251.17 | +18.7% | Jul 9, 2026 |
| Barclays | Alex Scott | $213 | $248.37 | -7.1% | Jul 7, 2026 |
| Raymond James | Analyst unavailable | $300 | $248.04 | +30.9% | Jul 6, 2026 |
| Morgan Stanley | Bob Huang | $240 | $250.33 | +4.7% | Jul 6, 2026 |
| HSBC | Vikram Gandhi | $264 | $250.33 | +15.2% | Jul 6, 2026 |
| Piper Sandler | Analyst unavailable | $268 | $217.26 | +16.9% | May 1, 2026 |
| Raymond James | Gregory Peters | $260 | $213.61 | +13.4% | Mar 3, 2026 |
| Mizuho Securities | Analyst unavailable | $281 | $207.55 | +22.6% | Feb 9, 2026 |
| Goldman Sachs | Analyst unavailable | $238 | $207.55 | +3.8% | Feb 7, 2026 |
| Wells Fargo | Elyse Greenspan | $228 | $212.13 | -0.5% | Feb 6, 2026 |
| Mizuho Securities | Analyst unavailable | $255 | $197.65 | +11.3% | Jan 14, 2026 |
| Wells Fargo | Analyst unavailable | $223 | $208.66 | -2.7% | Jan 13, 2026 |
| Goldman Sachs | Analyst unavailable | $227 | $207.27 | -1.0% | Jan 7, 2026 |
| Evercore ISI | Analyst unavailable | $225 | $208.97 | -1.8% | Jan 7, 2026 |
| Morgan Stanley | Bob Huang | $215 | $211.69 | -6.2% | Dec 16, 2025 |
| Mizuho Securities | Yaron Kinar | $254 | $211.69 | +10.8% | Dec 15, 2025 |
| Roth Capital | Harry Fong | $240 | $212.65 | +4.7% | Nov 26, 2025 |
| UBS | Analyst unavailable | $250 | $213.06 | +9.1% | Oct 8, 2025 |
| Evercore ISI | David Motemaden | $233 | $214.65 | +1.7% | Oct 1, 2025 |
| Roth Capital | Analyst unavailable | $230 | $209.82 | +0.3% | Sep 26, 2025 |
| Wells Fargo | Analyst unavailable | $202 | $205.55 | -11.9% | Aug 5, 2025 |
| Barclays | Alex Scott | $198 | $192.28 | -13.6% | Jul 31, 2025 |
| Wells Fargo | Elyse Greenspan | $197 | $200.17 | -14.1% | May 6, 2025 |
| Raymond James | Gregory Peters | $250 | $200.25 | +9.1% | May 5, 2025 |
| Wells Fargo | Elyse Greenspan | $187 | $186.04 | -18.4% | Jan 14, 2025 |
| BMO Capital | Michael Zaremski | $214 | $195.51 | -6.6% | Oct 18, 2024 |
| Bank of America Securities | Joshua Shanker | $233 | $195.51 | +1.7% | Oct 18, 2024 |
| Bank of America Securities | Joshua Shanker | $216 | $184.91 | -5.8% | Oct 10, 2024 |
| Raymond James | Gregory Peters | $220 | $187.84 | -4.0% | Oct 4, 2024 |
| Wells Fargo | Elyse Greenspan | $175 | $178.11 | -23.7% | Aug 16, 2024 |
| Piper Sandler | Paul Newsome | $196 | $178.11 | -14.5% | Aug 16, 2024 |
| CFRA | Catherine Seifert | $200 | $180.95 | -12.7% | Aug 14, 2024 |
| Wells Fargo | Elyse Greenspan | $177 | $171.03 | -22.8% | Aug 12, 2024 |
| Jefferies | Yaron Kinar | $217 | $169.02 | -5.3% | Aug 5, 2024 |
| BMO Capital | Michael Zaremski | $205 | $176.82 | -10.6% | Aug 5, 2024 |
| BMO Capital | Michael Zaremski | $191 | $176.69 | -16.7% | Jul 18, 2024 |
| Piper Sandler | Paul Newsome | $188 | $173.01 | -18.0% | Apr 1, 2024 |
| HSBC | Vikram Gandhi | $190 | $169.84 | -17.1% | Mar 28, 2024 |
| Wells Fargo | Analyst unavailable | $104 | $131.68 | -54.6% | Feb 3, 2023 |
| Evercore ISI | Analyst unavailable | $138 | $131.53 | -39.8% | Feb 2, 2023 |
| Piper Sandler | Analyst unavailable | $153 | $140.01 | -33.2% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $166 | $140.36 | -27.6% | Jan 9, 2023 |
| Morgan Stanley | Analyst unavailable | $137 | $134.26 | -40.2% | Nov 22, 2022 |
| Credit Suisse | Andrew Kligerman | $188 | $121.39 | -18.0% | Sep 2, 2022 |
| Morgan Stanley | Analyst unavailable | $140 | $131.18 | -38.9% | Aug 19, 2022 |
| Piper Sandler | Analyst unavailable | $147 | $141.13 | -35.9% | Apr 22, 2022 |
| Raymond James | Gregory Peters | $165 | $141.8 | -28.0% | Mar 27, 2022 |
| Raymond James | Gregory Peters | $145 | $125.88 | -36.7% | Mar 14, 2022 |
| Goldman Sachs | Alex Scott | $142 | $125.68 | -38.0% | Mar 3, 2022 |
| Jefferies | Yaron Kinar | $122 | $121.54 | -46.8% | Jan 6, 2022 |
| Barclays | Tracy Benguigui | $119 | $121.54 | -48.1% | Jan 6, 2022 |
| Deutsche Bank | Phil Stefano | $131 | $134 | -42.8% | May 13, 2021 |
| Argus Research | Kevin Heal | $155 | $131.05 | -32.4% | May 10, 2021 |
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Start freeCompany context
Snapshot as of publicationThe Allstate Corporation, along with its affiliated entities, provides a comprehensive suite of property, casualty, and other insurance offerings throughout the United States and Canada. The company's operations are structured across four primary business segments: Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability. The Allstate Protection segment delivers a wide array of personal and commercial insurance solutions. This includes standard private passenger auto and homeowners policies, as well as specialized vehicle coverage for motorcycles, trailers, motor homes, and off-road vehicles. Additional personal lines encompass renter, condominium, landlord, boat, umbrella, manufactured home, and stand-alone scheduled personal property policies. Commercial lines products are also available, marketed under the Allstate and Encompass brand names. The Protection Services division focuses on consumer protection and related financial services.…
Historical context
All ALL earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the ALL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-06T17:15:14.321283+00:00
- FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
- Polygon adjusted daily market bars · 2026-09-22T13:30:52.285612+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T13:30:52.282640+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.