Caisse de depot et placement du Quebec Acquires New Shares in The Allstate Corporation $ALL

Caisse de depot et placement du Quebec bought a new stake in The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 701,298 shares of the insurance provider’s stock, valued at approximately $166,867,000. Caisse de depot et placement du Quebec owned approximately 0.28% of Allstate at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Gables Capital Management Inc. bought a new position in Allstate during the second quarter valued at approximately $26,000. Allied Private Wealth LLC acquired a new stake in Allstate in the second quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new position in shares of Allstate during the 2nd quarter worth $28,000. MV Capital Management Inc. acquired a new position in shares of Allstate during the 4th quarter worth $25,000. Finally, Navalign LLC bought a new position in shares of Allstate during the 4th quarter valued at $27,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ALL. Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their target price on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and increased their price target for the company from $244.00 to $264.00 in a report on Monday, July 6th. Mizuho boosted their target price on shares of Allstate from $255.00 to $272.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Finally, Piper Sandler raised their price target on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate has an average rating of “Hold” and an average target price of $265.26.

Allstate Stock Performance

ALL opened at $262.08 on Thursday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $66.27 billion, a PE ratio of 5.23, a P/E/G ratio of 0.39 and a beta of 0.16. The stock’s 50 day simple moving average is $252.60 and its 200-day simple moving average is $226.21.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same quarter last year, the company earned $5.94 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts forecast that The Allstate Corporation will post 34.45 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.6%. Allstate’s payout ratio is currently 8.63%.

Insider Buying and Selling at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 91,446 shares of company stock worth $24,208,675 over the last three months. Company insiders own 1.55% of the company’s stock.

Allstate Company Profile

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.