Allstate Insurance Company is a publicly traded company, meaning it is owned by shareholders who hold shares of the company’s stock. The stock is traded on the New York Stock Exchange (NYSE) under the ticker symbol ALL. Since Allstate is a publicly traded company, it does not have a single private owner; rather, ownership is distributed among individual and institutional investors who own shares in the company.
History of Allstate Ownership
1. Founding by Sears, Roebuck & Co.
- Established in 1931: Allstate was originally founded by Sears, Roebuck & Co. as part of its catalog business. The goal was to sell auto insurance through the mail.
- Spun Off in 1993: In 1993, Allstate became a fully independent, publicly traded company when Sears sold its remaining interest in the business.
2. Public Ownership
- Publicly Traded Company: Today, Allstate is owned by shareholders who purchase its stock on the NYSE. This includes individual investors as well as large institutional investors such as mutual funds, pension funds, and other financial institutions.
- CEO and Management: While shareholders own the company, the day-to-day operations of Allstate are managed by a board of directors and a senior management team, led by the company’s CEO.
Current Leadership at Allstate
- CEO: The current CEO of Allstate Corporation is Tom Wilson, who has held the position since 2007. He oversees the company’s operations and strategic direction.
- Board of Directors: Allstate’s board of directors consists of individuals from various industries who help guide the company’s long-term vision and ensure it operates in the best interest of its shareholders.
Major Institutional Investors
As a publicly traded company, Allstate’s largest shareholders include institutional investors such as:
- Vanguard Group
- BlackRock
- State Street Corporation
These institutional investors typically own a significant portion of the company’s shares on behalf of their clients, which may include retirement funds, mutual funds, and other investment portfolios.
Final Thoughts
Allstate is a publicly traded company owned by shareholders who buy and sell its stock on the New York Stock Exchange. Founded by Sears, Allstate is now an independent company led by a management team and a board of directors, with major ownership distributed among individual and institutional investors. At Rate Frog, we help you explore your insurance options and find the best policies to suit your needs. Visit our platform today to compare quotes and secure the right coverage for your peace of mind!