The Allstate Corporation (NYSE:ALL) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,756 shares of the insurance provider's stock after selling 4,366 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Allstate were worth $11,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Allstate in the fourth quarter valued at approximately $231,000. Stenger Family Office LLC acquired a new position in Allstate during the fourth quarter worth approximately $439,000. Venturi Wealth Management LLC increased its position in Allstate by 141.1% during the fourth quarter. Venturi Wealth Management LLC now owns 557 shares of the insurance provider's stock worth $107,000 after purchasing an additional 326 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in Allstate by 40.4% during the fourth quarter. Private Advisor Group LLC now owns 17,840 shares of the insurance provider's stock worth $3,439,000 after purchasing an additional 5,130 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALL shares. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Barclays reduced their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. upped their price target on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. William Blair began coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Finally, Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus target price of $225.20.

Allstate Stock Up 0.8%

NYSE:ALL traded up $1.52 during trading hours on Friday, hitting $195.67. The stock had a trading volume of 3,221,240 shares, compared to its average volume of 1,629,303. The company has a market cap of $51.82 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.99 and a beta of 0.35. The business has a 50 day simple moving average of $200.83 and a two-hundred day simple moving average of $196.46. The Allstate Corporation has a 1-year low of $157.50 and a 1-year high of $213.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter last year, the company posted $5.13 earnings per share. Allstate's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.04%. Allstate's payout ratio is currently 27.32%.

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.