Oppenheimer Asset Management Inc. Sells 1,457 Shares of The Allstate Co. (NYSE:ALL)

Oppenheimer Asset Management Inc. trimmed its position in The Allstate Co. (NYSE:ALL - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,122 shares of the insurance provider's stock after selling 1,457 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Allstate were worth $11,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock valued at $2,190,758,000 after acquiring an additional 126,922 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider's stock valued at $1,178,164,000 after purchasing an additional 74,537 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock valued at $215,757,000 after purchasing an additional 1,111,748 shares during the period. FMR LLC increased its stake in Allstate by 11.8% during the 3rd quarter. FMR LLC now owns 933,352 shares of the insurance provider's stock worth $177,010,000 after purchasing an additional 98,179 shares in the last quarter. Finally, Swiss National Bank increased its stake in Allstate by 0.3% during the 3rd quarter. Swiss National Bank now owns 783,300 shares of the insurance provider's stock worth $148,553,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALL. Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the company a "buy" rating in a report on Friday, November 8th. UBS Group upped their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Piper Sandler lifted their price target on Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group increased their price objective on Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $217.94.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares of the company's stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company's stock.

Allstate Stock Performance

ALL traded up $2.72 during trading on Monday, hitting $201.87. The stock had a trading volume of 1,516,793 shares, compared to its average volume of 1,846,442. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The company has a 50 day moving average price of $190.26 and a 200-day moving average price of $191.11. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88. The firm has a market cap of $53.50 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, research analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio is presently 21.66%.

Allstate announced that its board has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

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.