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

Oppenheimer Asset Management Inc. reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,122 shares of the insurance provider’s stock after selling 1,457 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Allstate were worth $11,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FSA Wealth Management LLC bought a new position in Allstate in the 3rd quarter valued at $26,000. Catalyst Capital Advisors LLC bought a new position in Allstate in the third quarter valued at about $29,000. Peoples Bank KS acquired a new stake in Allstate in the fourth quarter worth about $49,000. Stonebridge Financial Group LLC bought a new stake in Allstate during the 4th quarter worth about $53,000. Finally, Golden State Wealth Management LLC acquired a new position in Allstate during the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $195.01 on Friday. The company has a market capitalization of $51.68 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The company’s 50 day moving average price is $190.15 and its two-hundred day moving average price is $190.71.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.05%. Allstate’s dividend payout ratio (DPR) is presently 21.66%.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ALL shares. Morgan Stanley lifted their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. UBS Group increased their price target on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler increased their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate 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.