Oppenheimer Asset Management Inc. Purchases 6,234 Shares of The Allstate Co. (NYSE:ALL)

Oppenheimer Asset Management Inc. boosted its position in The Allstate Co. (NYSE:ALL - Free Report) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,579 shares of the insurance provider's stock after purchasing an additional 6,234 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Allstate were worth $12,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider's stock worth $569,114,000 after purchasing an additional 472,040 shares during the period. Raymond James & Associates boosted its stake in Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider's stock valued at $287,851,000 after buying an additional 145,986 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider's stock worth $229,545,000 after acquiring an additional 47,038 shares during the period. Pathway Financial Advisers LLC raised its position in Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider's stock worth $199,642,000 after acquiring an additional 1,047,019 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Allstate by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider's stock valued at $160,948,000 after acquiring an additional 31,789 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of Allstate stock traded down $1.45 during midday trading on Thursday, hitting $195.85. 953,112 shares of the company were exchanged, compared to its average volume of 1,543,036. The firm has a 50 day simple moving average of $189.58 and a 200-day simple moving average of $176.40. The Allstate Co. has a 52 week low of $130.77 and a 52 week high of $201.00. The firm has a market cap of $51.86 billion, a P/E ratio of 12.69, a PEG ratio of 1.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Research analysts forecast that The Allstate Co. will post 16.02 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.88%. Allstate's dividend payout ratio (DPR) is presently 23.83%.

Insider Activity at Allstate

In related news, 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 completion of the sale, the chief executive officer now directly owns 88,552 shares in the company, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,530 shares of company stock valued at $34,967,665 in the last three months. Corporate insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALL shares. The Goldman Sachs Group raised their price objective on Allstate from $199.00 to $204.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on Allstate from $205.00 to $207.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on Allstate from $175.00 to $186.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. UBS Group lifted their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Raymond James raised their target price on Allstate from $205.00 to $220.00 and gave the stock a "strong-buy" rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $212.56.

Allstate Company Profile

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.