CIBC Asset Management Inc Boosts Holdings in The Allstate Co. (NYSE:ALL)

CIBC Asset Management Inc increased its holdings in The Allstate Co. (NYSE:ALL) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,751 shares of the insurance provider’s stock after purchasing an additional 2,984 shares during the period. CIBC Asset Management Inc’s holdings in Allstate were worth $7,349,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ALL. Allspring Global Investments Holdings LLC raised its holdings in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after acquiring an additional 145,986 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after acquiring an additional 47,038 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after acquiring an additional 31,789 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALL. The Goldman Sachs Group upped their price objective on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. TD Cowen increased their price target on Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays increased their price target on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $214.19.

Insider Transactions at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the firm’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 directly owns 88,552 shares in the company, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the firm’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 sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.6 %

Allstate stock opened at $196.88 on Monday. The stock has a 50-day moving average of $190.01 and a two-hundred day moving average of $176.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Co. has a one year low of $131.65 and a one year high of $201.00. The stock has a market cap of $52.13 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, research analysts anticipate that The Allstate Co. will post 16.01 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, November 29th. Allstate’s payout ratio 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.