Caisse de depot et placement du Quebec Makes New $166.87 Million Investment in The Allstate Corporation $ALL

Caisse de depot et placement du Quebec bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 701,298 shares of the insurance provider’s stock, valued at approximately $166,867,000.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Allstate in the 4th quarter valued at about $231,000. WINTON GROUP Ltd bought a new position in shares of Allstate in the 2nd quarter worth $210,000. Treasurer of the State of North Carolina increased its stake in shares of Allstate by 2.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after acquiring an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALL shares. UBS Group increased their target price on shares of Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research report on Wednesday, July 15th. Wells Fargo & Company downgraded Allstate from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $243.00 to $250.00 in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Citigroup cut Allstate from a “neutral” rating to a “sell” rating and boosted their target price for the company from $226.00 to $240.00 in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $265.26.

Insider Transactions at Allstate

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

Allstate Stock Up 1.7%

Shares of ALL stock opened at $262.08 on Thursday. The firm has a fifty day moving average of $252.60 and a 200-day moving average of $226.21. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a market capitalization of $66.27 billion, a price-to-earnings ratio of 5.23, a P/E/G ratio of 0.39 and a beta of 0.16.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $5.94 earnings per share. As a group, equities research analysts predict that The Allstate Corporation will post 34.45 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company 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. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio is currently 8.63%.

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.