Oppenheimer Asset Management Inc. reduced its position in shares of Allstate Corporation (The) (NYSE:ALL) by 68.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,928 shares of the insurance provider’s stock after selling 8,520 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Allstate Corporation (The) were worth $347,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Delta Lloyd Asset Management N.V. acquired a new stake in shares of Allstate Corporation (The) during the 2nd quarter worth about $3,175,000. Swiss National Bank boosted its stake in shares of Allstate Corporation (The) by 1.9% during the 2nd quarter. Swiss National Bank now owns 1,602,573 shares of the insurance provider’s stock worth $141,732,000 after purchasing an additional 29,800 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Allstate Corporation (The) by 19.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,850 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 300 shares during the last quarter. Commerce Bank boosted its stake in shares of Allstate Corporation (The) by 9.4% during the 2nd quarter. Commerce Bank now owns 42,913 shares of the insurance provider’s stock worth $3,795,000 after purchasing an additional 3,704 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Allstate Corporation (The) by 249.1% during the 2nd quarter. Principal Financial Group Inc. now owns 1,827,612 shares of the insurance provider’s stock worth $161,634,000 after purchasing an additional 1,304,131 shares during the last quarter. 76.13% of the stock is currently owned by institutional investors.

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

Several equities research analysts have issued reports on ALL shares. Barclays PLC raised their price target on shares of Allstate Corporation (The) from $101.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Citigroup Inc. raised their price target on shares of Allstate Corporation (The) from $97.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Deutsche Bank AG cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating and raised their price target for the stock from $90.00 to $96.00 in a research note on Tuesday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $91.00 price target (up from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. Finally, BidaskClub cut shares of Allstate Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $90.38.

Allstate Corporation (ALL) opened at 90.88 on Monday. The company has a 50-day moving average of $91.89 and a 200 day moving average of $86.58. Allstate Corporation has a 12-month low of $66.55 and a 12-month high of $95.25. The stock has a market cap of $32.84 billion, a price-to-earnings ratio of 13.42 and a beta of 1.09.

Allstate Corporation (The) (NYSE:ALL) last released its earnings results on Tuesday, August 1st. The insurance provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.48. The company had revenue of $8.02 billion for the quarter, compared to analysts’ expectations 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 posted $0.62 EPS. Equities analysts anticipate that Allstate Corporation will post $6.33 earnings per share for the current year.

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

Allstate Corporation (The) announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 63% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Allstate Corporation (The) Company Profile

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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