Oppenheimer & Co. Inc. Buys 440 Shares of The Allstate Co. (NYSE:ALL)

Oppenheimer & Co. Inc. lifted its stake in The Allstate Co. (NYSE:ALL) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,061 shares of the insurance provider’s stock after purchasing an additional 440 shares during the period. Oppenheimer & Co. Inc.’s holdings in Allstate were worth $1,926,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALL. Norges Bank purchased a new stake in Allstate in the fourth quarter worth about $212,771,000. Palestra Capital Management LLC purchased a new stake in Allstate in the fourth quarter worth about $83,561,000. Balyasny Asset Management L.P. purchased a new stake in Allstate in the fourth quarter worth about $81,571,000. Artemis Investment Management LLP purchased a new stake in Allstate in the first quarter worth about $95,764,000. Finally, Acadian Asset Management LLC lifted its position in shares of Allstate by 3,839.0% during the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after buying an additional 405,553 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Shares of NYSE ALL opened at $190.56 on Tuesday. The stock has a market capitalization of $50.29 billion, a price-to-earnings ratio of 42.07, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a 12 month low of $108.16 and a 12 month high of $191.33. The firm’s 50 day simple moving average is $177.05 and its 200-day simple moving average is $169.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued 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 analysts’ expectations of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned ($4.42) EPS. Analysts expect that The Allstate Co. will post 15.16 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s payout ratio is 81.24%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Roth Mkm reissued a “buy” rating and set a $200.00 price target on shares of Allstate in a research report on Wednesday, August 14th. Barclays assumed coverage on shares of Allstate in a research report on Wednesday, September 4th. They set an “underweight” rating and a $175.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. TD Cowen increased their price target on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have assigned 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Insider Transactions at Allstate

In other news, EVP Robert Toohey sold 16,682 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the sale, the executive vice president now owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The disclosure for this sale can be found here. Insiders have sold 201,938 shares of company stock valued at $36,122,740 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

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.