Cibc World Market Inc. Sells 22,731 Shares of The Allstate Corporation $ALL

Cibc World Market Inc. lowered its position in The Allstate Corporation (NYSE:ALL) by 51.7% during the 4th quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Navalign LLC bought a new position in shares of Allstate in the fourth quarter worth $27,000. Dorato Capital Management bought a new position in shares of Allstate in the fourth quarter worth $27,000. Palisade Asset Management LLC bought a new position in shares of Allstate in the third quarter worth $31,000. Princeton Global Asset Management LLC increased its holdings in shares of Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the period. Finally, South Plains Financial Inc. increased its holdings in shares of Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares during the period. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $220.98 on Monday. The company has a 50-day simple moving average of $213.31 and a two-hundred day simple moving average of $208.65. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62. The firm has a market cap 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) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.53 earnings per share. On average, equities analysts forecast that The Allstate Corporation will post 29.43 EPS for the current year.

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ALL shares. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company upped their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Finally, Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,353 shares of company stock worth $4,851,560. Company insiders own 1.55% of the company’s stock.

About Allstate

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.