CIBC Asset Management Inc Increases Stock Position in The Allstate Co. (NYSE:ALL)

CIBC Asset Management Inc increased its position in The Allstate Co. (NYSE:ALL) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 40,579 shares of the insurance provider’s stock after buying an additional 1,828 shares during the period. CIBC Asset Management Inc’s holdings in Allstate were worth $7,823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after purchasing an additional 74,537 shares during the period. Strategic Financial Concepts LLC increased its position in Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after purchasing an additional 1,111,748 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the period. Finally, FMR LLC lifted its position in Allstate by 11.8% during the third quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock valued at $177,010,000 after buying an additional 98,179 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ALL shares. Morgan Stanley increased their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Piper Sandler increased their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. UBS Group upped their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

Allstate Trading Up 1.4 %

NYSE:ALL opened at $191.67 on Thursday. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. 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 company has a market cap of $50.76 billion, a PE ratio of 11.28, a P/E/G ratio of 1.02 and a beta of 0.52. The business’s 50 day moving average is $190.52 and its two-hundred day moving average is $190.04.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. On average, analysts predict that The Allstate Co. will post 18.65 EPS for the current 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.