Cibc World Market Inc. Has $4.41 Million Stake in The Allstate Corporation $ALL

Cibc World Market Inc. lowered its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 51.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 21,197 shares of the insurance provider's stock after selling 22,731 shares during the period. Cibc World Market Inc.'s holdings in Allstate were worth $4,412,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in shares of Allstate in the 3rd quarter worth approximately $3,598,000. CIBC Bancorp USA Inc. purchased a new position in shares of Allstate in the 3rd quarter worth approximately $7,814,000. Elo Mutual Pension Insurance Co boosted its stake in shares of Allstate by 39.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider's stock worth $8,650,000 after buying an additional 11,431 shares during the last quarter. Mezzasalma Advisors LLC boosted its stake in shares of Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider's stock worth $4,875,000 after buying an additional 8,837 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider's stock worth $112,533,000 after buying an additional 26,586 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALL. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $231.00 price objective on shares of Allstate in a research note on Thursday, March 5th. Wells Fargo & Company upped their price objective on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Citigroup upped their price objective on Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded Allstate from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $241.67.

Insider Buying and Selling at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares of the company's stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is currently owned by company insiders.

Allstate Trading Down 0.0%

Shares of ALL stock opened at $220.98 on Monday. The company's fifty day simple moving average is $213.31 and its two-hundred day simple moving average is $208.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The stock has a market capitalization of $56.88 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the firm posted $3.53 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate's payout ratio is presently 9.53%.

Allstate 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.

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