Street Calls of the Week
The Allstate Corporation (NYSE:ALL), a $54.8 billion insurance giant trading near its 52-week high of $213.18, conducted its annual stockholders meeting on May 29, 2025, as detailed in a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company maintains a GREAT financial health score, reflecting its strong market position. The meeting resulted in the election of thirteen directors, each set to serve until the 2026 annual stockholders meeting. Among the directors elected were Donald E. Brown, Kermit R. Crawford, and Richard T. Hume. The nominees received a majority of votes in favor, with varying numbers of votes against and abstentions.
In addition to the election of directors, the meeting included a vote on the advisory resolution regarding executive compensation. The proposal, often referred to as "Say-on-Pay," was approved by a majority of the shares present or represented by proxy. The results showed 190,862,093 votes in favor, 8,542,648 against, and 1,166,224 abstentions.
The stockholders also ratified the appointment of Deloitte & Touche LLP as the independent registered public accountant for the fiscal year 2025. This proposal received 212,034,525 votes in favor, 16,650,450 against, and 378,841 abstentions.
The meeting took place at Allstate’s principal executive offices in Northbrook, Illinois. Allstate, a Delaware-incorporated company, is classified under the Fire, Marine & Casualty Insurance industry. The company trades its common stock on the New York Stock Exchange under the ticker symbol ALL.
This report is based on an official SEC filing by Allstate Corporation. Analysts maintain a generally positive outlook on the company, with a consensus recommendation of 1.9 (Buy) according to InvestingPro data.
In other recent news, Allstate has been the focus of multiple analyst reviews following its recent earnings and policy reports. BMO Capital Markets maintained an Outperform rating with a $230 price target, noting Allstate’s slightly disappointing April Policy in Force (PIF) numbers, which increased by 0.3% month-over-month. Despite this, BMO remains optimistic about Allstate’s growth trajectory, albeit with a slight adjustment in their 2025 growth estimate to 2.6%. Keefe, Bruyette & Woods also retained an Outperform rating, setting a $235 price target after Allstate reported significant catastrophe losses in April totaling $594 million. However, the firm sees potential for positive growth in policies due to smaller reductions in auto PIF year-over-year.
BMO adjusted its forecasts for Allstate, projecting a 1.1% quarter-over-quarter increase in auto PIF for the second quarter. This forecast is more optimistic than the consensus, suggesting confidence in Allstate’s customer retention rates. Keefe, Bruyette & Woods raised their price target to $235, following Allstate’s first-quarter earnings that exceeded expectations. The firm revised its earnings per share estimates for 2025 and 2026, attributing the changes to lower expense ratios and improved core loss ratios.
BMO’s price target increase to $230 was supported by a 15% upward revision in Allstate’s adjusted EPS projections for 2025. The firm highlighted Allstate’s strong first-quarter results and projected a 2% rise in EPS from the second to the fourth quarter. Analysts from both BMO and Keefe, Bruyette & Woods continue to express confidence in Allstate’s strategic positioning and growth potential, maintaining their Outperform ratings.
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