The Allstate Co. (NYSE:ALL) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of The Allstate Co. (NYSE:ALL) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,579 shares of the insurance provider’s stock after acquiring 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 quarter.

Several other large investors have also recently added to or reduced their stakes in ALL. FSA Wealth Management LLC purchased a new position in shares of Allstate during the 3rd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Allstate in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in Allstate during the third quarter worth $29,000. Peoples Bank KS purchased a new position in Allstate in the fourth quarter worth $49,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Allstate in the fourth quarter valued at $53,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. UBS Group boosted their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods raised their price objective on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley boosted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of NYSE ALL opened at $191.67 on Thursday. The company has a 50-day simple moving average of $190.52 and a 200-day simple moving average of $190.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The company has a market cap of $50.76 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.02 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.

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

About Allstate

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.