Bank of America 13F: Adds $131M to The Allstate (ALL) Stake
Bank of America lifted its investment in property and casualty insurer The Allstate Corporation by 8.1% during the reporting period.
Reviewed by automated data checks against the source filing. How we make and check alerts
Bank of America added 596,321 shares to its stake in The Allstate Corporation ($ALL), an 8.15% increase, according to a 13F filing with the SEC dated May 18, 2026. It reported 7,913,320 shares worth $1.73 billion at the end of the quarter.
Since the filing, $ALL is down 3.8% after 1 week, up 0.7% after 1 month and up 13.1% to date (from the $219.14 close on May 18, 2026).
ALL
The Allstate Corporation
Key Points
- Bank of America increased its holdings in The Allstate Corporation by 596,321 shares, bringing its total position to 7,913,320 shares worth approximately $1,733,966,678.40.
- The insurer trades around $219.12 per share, moving between a 52-week low of $188.08 and a high of $277.22.
- Wall Street firms recently updated their outlooks, with Wells Fargo lowering its price target to $236.00 and Mizuho maintaining an outperform rating.
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Bank of America Increases Position in The Allstate Corporation
Bank of America boosted its position in The Allstate Corporation NYSE:ALL by 8.1% during the period, according to a Form 13F filing with the Securities and Exchange Commission. The institutional investor added 596,321 shares to its portfolio, lifting its total holding to 7,913,320 shares. The reported value of the investment reached about $1,733,966,678.40 at the close of the reporting window.
Changes in Bank of America Holdings
The move grew the bank's investment from a prior count of 7,316,999 shares up to the new total of 7,913,320 shares. Because these regulatory filings offer a backward-looking snapshot of institutional activity, the position reflects holdings as of the reporting period and may not represent the investor's current portfolio weightings today.
Trading Levels for Allstate Stock
Shares trade on the New York Stock Exchange under the ticker ALL, changing hands around $219.12 per share on Friday. The company has a market capitalization of roughly $61.41 billion. The stock sits well below its 52-week high of $277.22 and above its 52-week low of $188.08. The company trades with a price-to-earnings ratio of 4.86, while its forward price-to-earnings ratio stands at 8.79.
Recent Earnings Performance
The company generated $70.14 billion in revenue over the trailing period, alongside a net margin of 18.97% and an earnings per share figure of $49.94. The return on equity stood at 46.11%, showcasing profitability across its operations. The company's next earnings report is slated for release on November 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 44.7%. Revenue beat estimates by 11.1%.
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Profit surprise
Operating income beat by 40 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
4 target raises.
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Earnings quality
Gross margin up 26.7 points. Operating margin up 14.5 points. Negative free cash flow.
Earnings Call Summary
Allstate delivered a strong first quarter with total revenue of $16.9 billion, up 3 percent, and adjusted earnings of $10.65 per share, beating consensus of $7.43. The property liability combined ratio improved to 82 percent, driven by strong underwriting performance and favorable reserve releases from 2023 and 2024. Management highlighted gaining auto insurance market share in 29 states representing 57 percent of premiums and homeowners market share reaching 8.3 percent nationally. They emphasized their multi-lever strategy for growth including pricing sophistication, product innovation, improved customer experience and effective claims management, rather than competing solely on price. Investment income grew nearly 10 percent to $938 million. The company returned $881 million to shareholders through repurchases and dividends, completing a $1.5 billion repurchase program and launching a new $4 billion authorization.
Guidance Management did not provide explicit financial guidance for full year 2026 or next quarter. They discussed strategic plans to manage pricing, expenses and distribution across 39 states with a balanced approach of rate increases in 16 states and decreases in 23 states, resulting in net neutral rate impact. They emphasized their Rubik's cube operating model to balance growth and profitability through multiple levers beyond pricing.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Dividend Distribution Details
The firm distributes an annual dividend rate of $4.32 per share, giving the stock a dividend yield of 1.73%. The payout ratio sits at a modest 8.33% of earnings, leaving room for future distributions.
Wall Street Analyst Rating Changes
Ratings and targets from major financial firms have continued adjusting through the autumn. On October 12, 2026, Wells Fargo lowered its price target to $236.00 with an equal-weight rating. On the same date, Keefe, Bruyette & Woods maintained an underperform rating and cut its target to $232.00. Mizuho maintained an outperform rating on October 7, 2026, adjusting its target to $300.00. Barclays kept an underweight rating with a $221.00 target on October 7, 2026. Morgan Stanley maintained an equal-weight rating on October 6, 2026, with a $240.00 target. Citigroup maintained a sell rating on October 2, 2026, lowering its target to $215.00. Goldman Sachs held a neutral rating with a $250.00 target on October 1, 2026. Earlier in September, Mizuho maintained an outperform rating with a $300.00 target.
What The Allstate Corporation Does
The Allstate Corporation operates as a major provider of property, casualty, and other personal lines of insurance across the United States and Canada. Through brands like Allstate and National General, the firm offers private passenger auto, homeowners, and commercial coverage, alongside consumer protection plans and telematics-based roadside services.
Looking Ahead at Institutional Filings
Investors tracking major banking and institutional movements will look to subsequent SEC reports for further shifts in portfolio allocations. As earnings season approaches in November, market participants will monitor whether larger funds continue adjusting their insurance sector exposure.
Related Filing Alerts
Source: Bank of America's 13F filing on $ALL (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Bank of America 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts