The Allstate Co. (NYSE:ALL) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its position in The Allstate Co. (NYSE:ALLFree Report) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,219 shares of the insurance provider’s stock after selling 1,724 shares during the period. CIBC Asset Management Inc’s holdings in Allstate were worth $5,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Gradient Investments LLC increased its position in Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after acquiring an additional 66 shares during the period. Brighton Jones LLC lifted its holdings in Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after purchasing an additional 71 shares during the period. SVB Wealth LLC grew its position in Allstate by 1.2% in the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after buying an additional 72 shares in the last quarter. AdvisorNet Financial Inc increased its stake in Allstate by 1.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after buying an additional 82 shares during the period. Finally, St. Johns Investment Management Company LLC raised its position in shares of Allstate by 2.2% during the 4th quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock worth $554,000 after buying an additional 85 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Allstate Stock Performance

NYSE:ALL opened at $163.30 on Thursday. The firm has a market capitalization of $43.10 billion, a PE ratio of 36.05, a PEG ratio of 1.55 and a beta of 0.50. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $177.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $168.88 and its 200 day simple moving average is $157.34.

Allstate (NYSE:ALLGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. During the same period last year, the business posted ($1.30) earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Allstate Co. will post 15.15 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Friday, May 31st. This represents a $3.68 annualized dividend and a dividend yield of 2.25%. Allstate’s payout ratio is 81.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALL shares. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their price target for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Morgan Stanley raised their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Piper Sandler boosted their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, StockNews.com lowered shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.59.

Get Our Latest Research Report on Allstate

Allstate Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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