Canada Pension Plan Investment Board Grows Stock Holdings in The Allstate Co. (NYSE:ALL)

Canada Pension Plan Investment Board grew its holdings in The Allstate Co. (NYSE:ALL) by 97.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,464 shares of the insurance provider’s stock after acquiring an additional 134,028 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of Allstate worth $46,966,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Allstate in the 1st quarter valued at $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate in the 4th quarter valued at $25,000. Rise Advisors LLC purchased a new stake in shares of Allstate in the 1st quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the 1st quarter valued at $26,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Allstate in the 4th quarter valued at $36,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of ALL opened at $169.17 on Friday. The Allstate Co. has a 1-year low of $104.29 and a 1-year high of $179.93. The stock has a market cap of $44.65 billion, a PE ratio of 37.34, a P/E/G ratio of 1.77 and a beta of 0.48. The firm has a 50-day simple moving average of $163.94 and a two-hundred day simple moving average of $163.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the business earned ($1.30) earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts forecast that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is presently 81.24%.

Analyst Ratings Changes

ALL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. The Goldman Sachs Group raised their price target on shares of Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $194.00 price target on shares of Allstate in a research report on Friday, July 5th. Wells Fargo & Company raised their price target on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. Finally, Morgan Stanley dropped their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.06.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.