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

CIBC Asset Management Inc lowered its stake in The Allstate Co. (NYSE:ALLGet Rating) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,439 shares of the insurance provider’s stock after selling 437 shares during the quarter. CIBC Asset Management Inc’s holdings in Allstate were worth $6,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. D.A. Davidson & CO. increased its position in Allstate by 5.9% in the fourth quarter. D.A. Davidson & CO. now owns 12,044 shares of the insurance provider’s stock worth $1,417,000 after purchasing an additional 670 shares during the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of Allstate by 6.2% in the 4th quarter. Capital Investment Advisory Services LLC now owns 1,773 shares of the insurance provider’s stock worth $209,000 after buying an additional 103 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Allstate by 1.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 71,967 shares of the insurance provider’s stock valued at $8,467,000 after buying an additional 945 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Allstate by 1.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,442 shares of the insurance provider’s stock valued at $13,935,000 after acquiring an additional 1,386 shares during the last quarter. Finally, WealthPLAN Partners LLC purchased a new position in Allstate in the fourth quarter worth about $207,000. Institutional investors own 75.84% of the company’s stock.

Analyst Ratings Changes

ALL has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a research report on Thursday, July 21st. Argus cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Barclays reduced their price objective on Allstate from $132.00 to $123.00 in a report on Thursday, July 21st. Piper Sandler cut their price target on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, April 22nd. Finally, Credit Suisse Group initiated coverage on shares of Allstate in a research note on Thursday, April 28th. They issued an “outperform” rating and a $188.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.58.

Allstate Trading Down 1.0 %

Allstate stock opened at $113.92 on Friday. The Allstate Co. has a 52 week low of $106.11 and a 52 week high of $144.46. The stock has a 50-day moving average price of $124.70 and a 200 day moving average price of $127.68. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $31.33 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 4.98 and a beta of 0.73.

Allstate (NYSE:ALLGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.51. Allstate had a net margin of 1.99% and a return on equity of 7.12%. During the same period last year, the company earned $3.79 EPS. Sell-side analysts anticipate that The Allstate Co. will post 5.28 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Wednesday, August 31st will be issued a $0.85 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.98%. Allstate’s dividend payout ratio (DPR) is presently 118.47%.

Insider Transactions at Allstate

In other Allstate news, CEO Thomas J. Wilson sold 142,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $133.39, for a total value of $18,941,380.00. Following the sale, the chief executive officer now owns 99,828 shares in the company, valued at approximately $13,316,056.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.77% of the company’s stock.

About Allstate

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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