Oppenheimer Asset Management Inc. Reduces Position in The Allstate Corporation $ALL

Oppenheimer Asset Management Inc. cut its holdings in shares of The Allstate Corporation (NYSE:ALL) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,253 shares of the insurance provider’s stock after selling 7,503 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Allstate were worth $10,116,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its position in shares of Allstate by 19.3% during the second quarter. Brighton Jones LLC now owns 7,930 shares of the insurance provider’s stock valued at $1,596,000 after buying an additional 1,284 shares during the last quarter. Mason & Associates Inc boosted its position in shares of Allstate by 30.0% during the second quarter. Mason & Associates Inc now owns 5,562 shares of the insurance provider’s stock valued at $1,120,000 after buying an additional 1,285 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs boosted its position in shares of Allstate by 2.8% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 10,361 shares of the insurance provider’s stock valued at $2,086,000 after buying an additional 287 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in Allstate by 28.5% in the second quarter. Focus Partners Advisor Solutions LLC now owns 5,251 shares of the insurance provider’s stock worth $1,055,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in Allstate by 3.9% in the second quarter. Sage Mountain Advisors LLC now owns 2,351 shares of the insurance provider’s stock worth $473,000 after purchasing an additional 88 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALL has been the topic of several research reports. Keefe, Bruyette & Woods raised their target price on Allstate from $237.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Barclays reissued an “underweight” rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Roth Capital set a $230.00 target price on Allstate and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Jefferies Financial Group raised their target price on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $234.27.

Allstate Stock Down 0.6%

NYSE ALL opened at $193.37 on Monday. The stock’s 50-day moving average price is $204.27 and its 200-day moving average price is $201.14. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.70. The company has a market capitalization of $50.95 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 0.70 and a beta of 0.38.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

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.