Cibc World Market Inc. Boosts Stake in The Allstate Co. (NYSE:ALL)

Cibc World Market Inc. raised its holdings in The Allstate Co. (NYSE:ALL) by 316.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 241,057 shares of the insurance provider’s stock after acquiring an additional 183,235 shares during the period. Cibc World Market Inc. owned approximately 0.09% of Allstate worth $46,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Calton & Associates Inc. lifted its position in shares of Allstate by 56.3% during the 4th quarter. Calton & Associates Inc. now owns 2,165 shares of the insurance provider’s stock worth $417,000 after purchasing an additional 780 shares during the last quarter. Crews Bank & Trust acquired a new stake in Allstate during the 4th quarter valued at $310,000. BDF Gestion boosted its holdings in shares of Allstate by 40.8% during the fourth quarter. BDF Gestion now owns 26,912 shares of the insurance provider’s stock worth $5,188,000 after purchasing an additional 7,802 shares during the last quarter. Manning & Napier Advisors LLC raised its position in shares of Allstate by 76.0% in the 4th quarter. Manning & Napier Advisors LLC now owns 27,099 shares of the insurance provider’s stock worth $5,224,000 after buying an additional 11,698 shares during the period. Finally, Ibex Wealth Advisors purchased a new position in Allstate in the fourth quarter valued at about $569,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 1.6 %

NYSE:ALL opened at $193.80 on Friday. The firm has a market cap of $51.32 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50-day moving average of $194.33 and a 200 day moving average of $188.10. The Allstate Co. has a 1-year low of $153.42 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Co. will post 16.83 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is 23.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALL. Piper Sandler lifted their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Jefferies Financial Group increased their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group upped their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.13.

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.