Oppenheimer Asset Management Inc. Makes New Investment in The Allstate Corporation $ALL

Oppenheimer Asset Management Inc. bought a new stake in The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 39,573 shares of the insurance provider’s stock, valued at approximately $9,416,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Allstate by 5.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after buying an additional 26,586 shares in the last quarter. Strategic Global Advisors LLC grew its position in Allstate by 19.2% in the fourth quarter. Strategic Global Advisors LLC now owns 48,882 shares of the insurance provider’s stock valued at $10,175,000 after acquiring an additional 7,870 shares during the last quarter. Elevation Point Wealth Partners LLC raised its stake in Allstate by 130.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider’s stock worth $4,016,000 after acquiring an additional 10,936 shares in the last quarter. CIBC Asset Management Inc raised its stake in Allstate by 69.2% during the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider’s stock worth $13,116,000 after acquiring an additional 25,764 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Allstate in the fourth quarter worth about $161,000. Institutional investors own 76.47% of the company’s stock.

Key Headlines Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Analyst earnings estimates were raised. Dowling & Partners increased its FY2026 EPS estimate for Allstate to $35.50 from $30.50, reinforcing expectations for continued profitability. FY2026 EPS estimates article
• Positive Sentiment: JPMorgan reportedly expects further upside. The analyst maintained an overweight rating and raised its price target to $292 from $282, supporting the bullish case following Allstate’s recent earnings beat. JPMorgan analyst article
• Positive Sentiment: Allstate is investing in quantum computing. CEO Tom Wilson said the insurer plans to expand its current 10-person quantum team so it can build expertise and potentially gain a competitive advantage as the technology matures. The investment is strategically positive, although financial benefits are likely long term. Allstate quantum computing article
• Positive Sentiment: Claims operations are receiving additional investment. Allstate opened a 33,000-square-foot training campus in Dallas for its 23,000 claims professionals. Improved claims accuracy and customer service could support retention and operating efficiency. Allstate Claims University announcement
• Neutral Sentiment: Recent earnings remain a major backdrop. Allstate’s latest quarter produced $8.99 in EPS versus the $6.06 consensus estimate, while revenue rose 11.8% year over year to $15.43 billion. However, the stock is trading near its 52-week high, increasing sensitivity to any signs that profitability may moderate.
• Negative Sentiment: Insiders sold substantial holdings. COO Mario Rizzo sold 56,225 shares for approximately $14.9 million, reducing his direct position by 40.6%. Separate reports also disclosed a sizable sale by John Dugenske, potentially weighing on investor sentiment. Allstate insider sales article
• Negative Sentiment: Allstate lost an Ontario coverage challenge. Definity prevailed in court over Allstate’s excluded-driver coverage position, creating a potential legal and claims-related concern in the Canadian market. Ontario court coverage challenge article
• Negative Sentiment: Valuation concerns remain. One analysis argues Allstate’s share price assumes a 94.1% combined ratio that the company has never sustained, raising questions about whether its recent operating returns can persist.

Insider Buying and Selling

In other Allstate news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 92,996 shares of company stock valued at $24,543,894. Company insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Atlantic Securities set a $319.00 price target on shares of Allstate in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup downgraded shares of Allstate from a “neutral” rating to a “sell” rating and upped their price target for the stock from $226.00 to $240.00 in a report on Tuesday. UBS Group raised their price objective on Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday. Finally, Morgan Stanley set a $265.00 price objective on Allstate in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $265.53.

Allstate Stock Up 0.3%

NYSE:ALL opened at $261.26 on Friday. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $66.06 billion, a PE ratio of 5.22, a P/E/G ratio of 0.40 and a beta of 0.16. The firm’s 50 day simple moving average is $246.52 and its 200 day simple moving average is $222.83.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The firm had revenue of $15.43 billion during the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $5.94 EPS. On average, research analysts anticipate that The Allstate Corporation will post 33.92 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s payout ratio is currently 8.63%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.