Oppenheimer Asset Management Inc. Purchases 1,355 Shares of The Allstate Co. (NYSE:ALL)

Oppenheimer Asset Management Inc. boosted its position in shares of The Allstate Co. (NYSE:ALL) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,345 shares of the insurance provider’s stock after purchasing an additional 1,355 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Allstate were worth $9,156,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Allstate by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock worth $884,508,000 after acquiring an additional 90,390 shares during the last quarter. Norges Bank bought a new position in shares of Allstate in the fourth quarter worth about $212,771,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Allstate by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock worth $130,680,000 after acquiring an additional 8,454 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock worth $123,574,000 after acquiring an additional 75,698 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Allstate by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock worth $118,925,000 after buying an additional 6,760 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Thomas J. Wilson sold 90,000 shares of Allstate 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 transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now owns 4,873 shares in the company, valued at $877,968.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock valued at $36,122,740 in the last quarter. Company insiders own 1.80% of the company’s stock.

Allstate Stock Up 1.2 %

Allstate stock opened at $188.30 on Friday. The company has a 50 day moving average of $176.43 and a 200-day moving average of $169.11. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $49.72 billion, a PE ratio of 41.57, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The Allstate Co. has a twelve month low of $108.16 and a twelve month high of $191.33.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($4.42) earnings per share. On average, equities research analysts anticipate that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler boosted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Morgan Stanley dropped their price target on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.76.

About Allstate

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.