Are Wall Street Analysts Bullish on Allstate Stock?

Wall Street analysts appear optimistic about Allstate Corporation (ALL) stock, with a moderate buy consensus rating from the 24 analysts covering the stock. Over the past year, ALL shares have outperformed the broader S&P 500 Index, growing 25.3% compared to 20.4% for the index. Furthermore, ALL stock has increased 25.6% year-to-date, outpacing the State Street Financial Select Sector SPDR ETF's 10.5% gain.

Allstate's Q2 2026 earnings report on Aug. 5 exceeded expectations, with adjusted EPS of $8.99 beating consensus estimates and a 51.3% increase year-over-year. The company's strong performance can be attributed to improved underwriting, premium growth, robust investment income, and reduced catastrophe losses. Analysts forecast Allstate's adjusted EPS to decline 2.6% year-over-year to $33.92 for the fiscal year ending in December 2026.

Despite a slight decrease in the consensus rating from 11 Strong Buy ratings to 10, the mean price target of $273.83 still represents a 4.8% premium to ALL's current price, implying a potential upside of 27.8%.