CIBC Asset Management Inc Purchases 1,828 Shares of The Allstate Co. (NYSE:ALL)

CIBC Asset Management Inc lifted its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,579 shares of the insurance provider's stock after purchasing an additional 1,828 shares during the quarter. CIBC Asset Management Inc's holdings in Allstate were worth $7,823,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ALL. Catalyst Capital Advisors LLC grew its holdings in shares of Allstate by 137.3% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the insurance provider's stock valued at $70,000 after buying an additional 210 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Allstate by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 327,320 shares of the insurance provider's stock worth $63,104,000 after acquiring an additional 13,566 shares during the last quarter. Monument Capital Management boosted its stake in Allstate by 7.9% during the 4th quarter. Monument Capital Management now owns 14,284 shares of the insurance provider's stock valued at $2,754,000 after purchasing an additional 1,045 shares during the last quarter. Valmark Advisers Inc. boosted its stake in Allstate by 16.3% during the 4th quarter. Valmark Advisers Inc. now owns 1,495 shares of the insurance provider's stock valued at $288,000 after purchasing an additional 210 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Allstate by 3.9% during the 4th quarter. Allworth Financial LP now owns 15,146 shares of the insurance provider's stock worth $2,806,000 after purchasing an additional 562 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Allstate from $209.00 to $230.00 and gave the company a "buy" rating in a report on Friday, November 15th. Piper Sandler lifted their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a report on Friday, November 8th. UBS Group boosted their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $217.94.

Allstate Stock Performance

Allstate stock traded down $3.67 during midday trading on Friday, reaching $185.51. The stock had a trading volume of 1,427,939 shares, compared to its average volume of 1,626,969. 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 firm has a market capitalization of $49.12 billion, a PE ratio of 10.92, a P/E/G ratio of 1.03 and a beta of 0.52. The Allstate Co. has a 12 month low of $153.87 and a 12 month high of $209.88. The firm's 50-day moving average price is $190.25 and its 200 day moving average price is $190.15.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, research analysts predict that The Allstate Co. will post 18.65 earnings per share for the current fiscal year.

Allstate 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.