Canada Pension Plan Investment Board Buys Shares of 790,255 The Allstate Corporation $ALL

Canada Pension Plan Investment Board bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 790,255 shares of the insurance provider’s stock, valued at approximately $188,033,000.

Several other hedge funds and other institutional investors have also modified their holdings of ALL. Legal & General Group Plc acquired a new position in Allstate in the second quarter valued at approximately $455,302,000. The Manufacturers Life Insurance Company bought a new stake in shares of Allstate in the 2nd quarter worth approximately $42,409,000. Van Hulzen Asset Management LLC bought a new stake in shares of Allstate in the 2nd quarter worth approximately $728,000. Veratis Advisors Inc. acquired a new position in Allstate during the 2nd quarter valued at approximately $764,000. Finally, Fiduciary Financial Advisors acquired a new position in Allstate during the 2nd quarter valued at approximately $42,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 1.7%

ALL opened at $262.08 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $66.27 billion, a PE ratio of 5.23, a P/E/G ratio of 0.39 and a beta of 0.16. The stock’s fifty day moving average is $252.60 and its 200-day moving average is $226.21. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $5.94 earnings per share. On average, equities analysts predict that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate’s dividend payout ratio (DPR) is 8.63%.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 91,446 shares of company stock valued at $24,208,675 in the last quarter. Insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALL. Zacks Research upgraded shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Cantor Fitzgerald upped their target price on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Raymond James Financial restated a “strong-buy” rating and issued a $315.00 price target on shares of Allstate in a research note on Tuesday, August 11th. Roth Capital set a $300.00 price target on Allstate in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $265.26.

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.