CIBC Private Wealth Group LLC Sells 4,436 Shares of The Allstate Co. (NYSE:ALL)

CIBC Private Wealth Group LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 18.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,226 shares of the insurance provider's stock after selling 4,436 shares during the period. CIBC Private Wealth Group LLC's holdings in Allstate were worth $3,688,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALL. IPG Investment Advisors LLC bought a new stake in shares of Allstate in the fourth quarter valued at about $1,319,000. Schroder Investment Management Group grew its holdings in shares of Allstate by 45.9% during the 4th quarter. Schroder Investment Management Group now owns 63,410 shares of the insurance provider's stock worth $12,225,000 after purchasing an additional 19,947 shares in the last quarter. Allianz SE bought a new stake in shares of Allstate during the fourth quarter valued at approximately $314,000. Transamerica Financial Advisors Inc. raised its stake in shares of Allstate by 94.8% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 596 shares of the insurance provider's stock valued at $115,000 after purchasing an additional 290 shares in the last quarter. Finally, Intrust Bank NA lifted its position in Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock worth $2,340,000 after purchasing an additional 61 shares during the period. Institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALL shares. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. StockNews.com cut Allstate from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their price objective on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $219.80.

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Allstate Trading Down 3.3 %

ALL stock traded down $6.16 during trading on Monday, hitting $180.41. The company had a trading volume of 4,061,955 shares, compared to its average volume of 1,600,391. The firm has a 50-day moving average price of $197.12 and a 200-day moving average price of $194.31. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.01 and a beta of 0.36.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts' consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio (DPR) is 23.54%.

Allstate announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

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.