CIBC Asset Management Inc Acquires 2,984 Shares of The Allstate Co. (NYSE:ALL)

CIBC Asset Management Inc raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,751 shares of the insurance provider’s stock after acquiring an additional 2,984 shares during the period. CIBC Asset Management Inc’s holdings in Allstate were worth $7,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares during the last quarter. Raymond James & Associates grew its position in Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after acquiring an additional 145,986 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after acquiring an additional 47,038 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after acquiring an additional 1,047,019 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after acquiring an additional 31,789 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Roth Mkm reiterated a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Evercore ISI raised their target price on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Raymond James raised their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $214.19.

Insiders Place Their Bets

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 50.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Allstate Price Performance

ALL opened at $196.88 on Monday. The stock has a 50-day moving average price of $190.01 and a 200-day moving average price of $176.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $52.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.75 and a beta of 0.48. The Allstate Co. has a 1 year low of $131.65 and a 1 year high of $201.00.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. Sell-side analysts predict that The Allstate Co. will post 16.01 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.