Oppenheimer & Co. Inc. Decreases Stake in Allstate Corp (NYSE:ALL)

Oppenheimer & Co. Inc. reduced its position in Allstate Corp (NYSE:ALL) by 7.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,603 shares of the insurance provider’s stock after selling 381 shares during the period. Oppenheimer & Co. Inc.’s holdings in Allstate were worth $500,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ALL. Community Bank N.A. raised its position in Allstate by 21.7% during the second quarter. Community Bank N.A. now owns 560 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 100 shares during the period. MainStreet Investment Advisors LLC raised its position in Allstate by 4.0% during the third quarter. MainStreet Investment Advisors LLC now owns 2,627 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 101 shares during the period. Investment Partners LTD. raised its position in Allstate by 1.7% during the third quarter. Investment Partners LTD. now owns 6,146 shares of the insurance provider’s stock valued at $668,000 after purchasing an additional 103 shares during the period. Cornerstone Advisors Inc. raised its position in Allstate by 15.3% during the second quarter. Cornerstone Advisors Inc. now owns 800 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 106 shares during the period. Finally, Wade G W & Inc. raised its position in Allstate by 3.8% during the second quarter. Wade G W & Inc. now owns 3,046 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 112 shares during the period. Institutional investors own 77.23% of the company’s stock.

In related news, EVP Susan L. Lees sold 27,650 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $108.30, for a total value of $2,994,495.00. Following the transaction, the executive vice president now owns 53,165 shares of the company’s stock, valued at $5,757,769.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

A number of brokerages have issued reports on ALL. ValuEngine downgraded Allstate from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on Allstate from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Raymond James upped their price objective on Allstate from $115.00 to $125.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Wells Fargo & Co upped their price objective on Allstate from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, Barclays set a $125.00 price target on Allstate and gave the stock a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $110.17.

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Shares of NYSE ALL opened at $108.19 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.30 and a current ratio of 0.30. The business’s 50 day moving average price is $107.47 and its 200-day moving average price is $102.76. Allstate Corp has a fifty-two week low of $77.00 and a fifty-two week high of $109.55. The company has a market cap of $34.29 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.27 and a beta of 0.81.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.32. Allstate had a return on equity of 13.83% and a net margin of 6.57%. The firm had revenue of $10.87 billion for the quarter, compared to the consensus estimate of $9.07 billion. During the same period in the prior year, the business posted $1.93 earnings per share. Sell-side analysts predict that Allstate Corp will post 9.97 earnings per share for the current year.

About Allstate

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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