The Allstate Corporation $ALL Stake Lifted by Cibc World Market Inc.

Cibc World Market Inc. grew its position in shares of The Allstate Corporation (NYSE:ALL) by 547.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,928 shares of the insurance provider’s stock after acquiring an additional 37,148 shares during the quarter. Cibc World Market Inc.’s holdings in Allstate were worth $9,429,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ALL. Harbor Capital Advisors Inc. grew its position in Allstate by 79.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC grew its holdings in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Clearstead Trust LLC increased its position in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares during the period. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALL. Evercore set a $225.00 target price on shares of Allstate in a research report on Wednesday, January 7th. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Mizuho increased their price target on Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.35.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 21,871 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 47,000 shares of company stock worth $10,012,228. Insiders own 1.70% of the company’s stock.

Allstate Price Performance

ALL opened at $207.41 on Friday. The firm has a market capitalization of $54.28 billion, a P/E ratio of 5.43, a PEG ratio of 0.43 and a beta of 0.23. The stock has a fifty day moving average of $203.54 and a 200-day moving average of $204.08. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $14.57 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period in the previous year, the firm earned $7.67 earnings per share. Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is 10.47%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.