Cibc World Market Inc. Buys Shares of 23,815 The Allstate Corporation $ALL

Cibc World Market Inc. purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 23,815 shares of the insurance provider’s stock, valued at approximately $5,667,000.

Other hedge funds have also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in Allstate in the fourth quarter worth approximately $25,000. Gables Capital Management Inc. purchased a new stake in Allstate during the 2nd quarter valued at $26,000. Navalign LLC purchased a new stake in Allstate during the 4th quarter valued at $27,000. Kelleher Financial Advisors bought a new position in shares of Allstate during the 2nd quarter valued at $28,000. Finally, Evolution Wealth Management Inc. lifted its holdings in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after buying an additional 140 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ALL. Atlantic Securities set a $319.00 price objective on Allstate in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $250.00 target price (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Evercore set a $240.00 price target on Allstate in a research note on Friday, July 10th. Cantor Fitzgerald upped their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley set a $265.00 price objective on shares of Allstate in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $265.26.

Allstate Price Performance

Shares of Allstate stock opened at $257.72 on Wednesday. The stock has a market cap of $65.17 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.40 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The stock’s fifty day moving average is $251.80 and its 200 day moving average is $225.88. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.Allstate’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.94 earnings per share. Sell-side analysts anticipate that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is 8.63%.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 91,446 shares of company stock valued at $24,208,675. 1.55% of the stock is owned by corporate insiders.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.