Oppenheimer & Co. Inc. lowered its stake in shares of Allstate Corporation (The) (NYSE:ALL) by 10.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,955 shares of the insurance provider’s stock after selling 600 shares during the period. Oppenheimer & Co. Inc.’s holdings in Allstate Corporation (The) were worth $438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Henderson Group PLC boosted its stake in Allstate Corporation (The) by 1.1% during the first quarter. Henderson Group PLC now owns 47,317 shares of the insurance provider’s stock worth $3,855,000 after buying an additional 500 shares during the last quarter. FCA Corp TX boosted its stake in Allstate Corporation (The) by 0.7% during the first quarter. FCA Corp TX now owns 25,241 shares of the insurance provider’s stock worth $2,057,000 after buying an additional 180 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Allstate Corporation (The) during the second quarter worth $1,671,000. State Street Corp boosted its stake in Allstate Corporation (The) by 3.0% during the first quarter. State Street Corp now owns 18,074,304 shares of the insurance provider’s stock worth $1,472,962,000 after buying an additional 530,591 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Allstate Corporation (The) by 228.4% during the first quarter. Baird Financial Group Inc. now owns 32,587 shares of the insurance provider’s stock worth $2,656,000 after buying an additional 22,663 shares during the last quarter. 76.51% of the stock is currently owned by institutional investors.

ALL has been the topic of a number of recent research reports. Wells Fargo & Company reissued a “buy” rating on shares of Allstate Corporation (The) in a research note on Thursday, July 20th. Barclays PLC decreased their price target on Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. Citigroup Inc. upped their price target on Allstate Corporation (The) from $97.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $91.00 price target (up previously from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Finally, Deutsche Bank AG lowered Allstate Corporation (The) from a “buy” rating to a “hold” rating and upped their price target for the company from $90.00 to $96.00 in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $90.38.

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In related news, President Matthew E. Winter sold 48,058 shares of Allstate Corporation (The) stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.54, for a total value of $4,255,055.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Harriet K. Harty sold 7,228 shares of Allstate Corporation (The) stock in a transaction on Friday, June 30th. The shares were sold at an average price of $88.35, for a total value of $638,593.80. Following the completion of the transaction, the insider now owns 18,260 shares in the company, valued at approximately $1,613,271. The disclosure for this sale can be found here. Insiders sold 150,830 shares of company stock worth $13,911,217 in the last quarter. 1.58% of the stock is owned by insiders.

Allstate Corporation (NYSE ALL) opened at 90.88 on Friday. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 13.42 and a beta of 1.09. The company’s 50-day moving average price is $91.89 and its 200 day moving average price is $86.58. Allstate Corporation has a 1-year low of $66.55 and a 1-year high of $95.25.

Allstate Corporation (The) (NYSE:ALL) last announced its quarterly earnings data on Tuesday, August 1st. The insurance provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.48. The business had revenue of $8.02 billion during the quarter, compared to the consensus estimate of $7.99 billion. Allstate Corporation (The) had a return on equity of 12.73% and a net margin of 7.02%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities analysts expect that Allstate Corporation will post $6.33 earnings per share for the current fiscal year.

Allstate Corporation (The) declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 63% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, August 29th. Allstate Corporation (The)’s payout ratio is currently 21.86%.

About Allstate Corporation (The)

The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.

Institutional Ownership by Quarter for Allstate Corporation (The) (NYSE:ALL)

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