CIBC Private Wealth Group LLC Sells 4,436 Shares of The Allstate Co. (NYSE:ALL)

CIBC Private Wealth Group LLC trimmed its holdings in The Allstate Co. (NYSE:ALL) by 18.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 19,226 shares of the insurance provider’s stock after selling 4,436 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Allstate were worth $3,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Apella Capital LLC lifted its position in Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after purchasing an additional 60 shares during the period. Intrust Bank NA lifted its holdings in shares of Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock valued at $2,340,000 after buying an additional 61 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Allstate by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after buying an additional 62 shares during the last quarter. Mather Group LLC. increased its position in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its position in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

NYSE:ALL opened at $205.59 on Thursday. The business’s 50-day moving average is $196.94 and its 200 day moving average is $194.28. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company has a market capitalization of $54.49 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, equities research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.00 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s dividend payout ratio (DPR) is presently 23.54%.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALL shares. Keefe, Bruyette & Woods boosted their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. StockNews.com downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company lifted their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.80.

About Allstate

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.