CIBC Asset Management Inc Buys 2,984 Shares of The Allstate Co. (NYSE:ALL)

CIBC Asset Management Inc increased its stake in The Allstate Co. (NYSE:ALL - Free Report) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,751 shares of the insurance provider's stock after purchasing an additional 2,984 shares during the quarter. CIBC Asset Management Inc's holdings in Allstate were worth $7,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Allstate in the third quarter valued at $29,000. Versant Capital Management Inc boosted its stake in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider's stock valued at $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. bought a new stake in Allstate in the second quarter worth about $38,000. Finally, MCF Advisors LLC lifted its holdings in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider's stock valued at $53,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. Bank of America increased their target price on shares of Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Allstate from $205.00 to $207.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price target on Allstate from $175.00 to $186.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Evercore ISI boosted their price objective on Allstate from $191.00 to $195.00 and gave the stock an "in-line" rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Allstate from $222.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $214.19.

Allstate Stock Up 1.6 %

NYSE:ALL traded up $3.09 during mid-day trading on Monday, reaching $199.97. The stock had a trading volume of 1,106,367 shares, compared to its average volume of 1,540,426. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $52.95 billion, a P/E ratio of 12.75, a PEG ratio of 1.75 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $132.74 and a fifty-two week high of $201.00. The business's 50 day moving average is $190.01 and its 200 day moving average is $176.80.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analysts' expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. As a group, sell-side analysts predict that The Allstate Co. will post 16.01 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. Allstate's payout ratio is currently 23.83%.

Insider Activity

In related news, CEO Thomas J. Wilson sold 90,000 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company's stock, valued at approximately $15,880,915.68. The trade was a 50.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Allstate Company Profile

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.