Canada Pension Plan Investment Board Buys 112,753 Shares of The Allstate Co. (NYSE:ALL)

Canada Pension Plan Investment Board grew its position in shares of The Allstate Co. (NYSE:ALL) by 41.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 384,217 shares of the insurance provider’s stock after purchasing an additional 112,753 shares during the quarter. Canada Pension Plan Investment Board owned about 0.15% of Allstate worth $61,344,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Accretive Wealth Partners LLC bought a new stake in Allstate during the fourth quarter valued at $201,000. 9258 Wealth Management LLC grew its stake in Allstate by 10.9% during the fourth quarter. 9258 Wealth Management LLC now owns 10,034 shares of the insurance provider’s stock worth $1,405,000 after purchasing an additional 987 shares during the period. Wells Fargo & Company MN increased its holdings in Allstate by 2.2% in the fourth quarter. Wells Fargo & Company MN now owns 484,435 shares of the insurance provider’s stock worth $67,811,000 after purchasing an additional 10,470 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Allstate in the fourth quarter valued at approximately $444,000. Finally, Trexquant Investment LP bought a new position in shares of Allstate during the 4th quarter worth approximately $1,084,000. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Allstate news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares in the company, valued at $15,880,915.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALL shares. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Piper Sandler upped their price objective on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. The Goldman Sachs Group boosted their target price on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a report on Wednesday, August 14th. Finally, StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Allstate Trading Up 0.2 %

Shares of ALL stock opened at $191.00 on Friday. The Allstate Co. has a 52-week low of $109.01 and a 52-week high of $193.19. The company has a 50-day simple moving average of $179.42 and a two-hundred day simple moving average of $170.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $50.41 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $14.04 billion. During the same period last year, the business posted ($4.42) earnings per share. Allstate’s revenue was up 12.4% on a year-over-year basis. Research analysts anticipate that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Allstate Profile

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.