The Allstate Corporation $ALL Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 19.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 40,483 shares of the insurance provider’s stock after selling 9,770 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Allstate were worth $8,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Guerra Pan Advisors LLC raised its position in Allstate by 1.5% during the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock worth $690,000 after buying an additional 49 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Allstate by 1.1% in the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after acquiring an additional 52 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Allstate by 4.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock worth $239,000 after acquiring an additional 53 shares during the period. L2 Asset Management LLC increased its stake in shares of Allstate by 4.8% during the second quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock worth $235,000 after acquiring an additional 53 shares during the period. Finally, Howard Capital Management Inc. raised its holdings in Allstate by 3.2% during the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 54 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $200.75 on Wednesday. The stock has a fifty day moving average price of $203.52 and a 200 day moving average price of $203.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.43 and a current ratio of 0.37. The stock has a market cap of $52.53 billion, a PE ratio of 5.26, a P/E/G ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.67 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.2%. Allstate’s payout ratio is 10.47%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 48,400 shares of company stock worth $10,313,256 in the last ninety days. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of analyst reports. Wall Street Zen lowered Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group raised their price target on Allstate from $250.00 to $255.00 and gave the company a “buy” rating in a report on Monday, November 10th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. JPMorgan Chase & Co. increased their price objective on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Roth Mkm raised their target price on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $239.00.

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.