Brown Brothers Harriman & Co. Buys 2,945 Shares of The Allstate Co. (NYSE:ALL)

Brown Brothers Harriman & Co. grew its position in The Allstate Co. (NYSE:ALL) by 250.4% during the third quarter, HoldingsChannel reports. The firm owned 4,121 shares of the insurance provider’s stock after buying an additional 2,945 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Allstate were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Independent Advisor Alliance raised its holdings in Allstate by 227.4% in the 3rd quarter. Independent Advisor Alliance now owns 20,498 shares of the insurance provider’s stock worth $3,888,000 after acquiring an additional 14,237 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Allstate by 66.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,572 shares of the insurance provider’s stock worth $867,000 after purchasing an additional 1,831 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Allstate by 52.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 55,249 shares of the insurance provider’s stock worth $10,478,000 after purchasing an additional 18,930 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Allstate by 6.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 19,573 shares of the insurance provider’s stock valued at $3,730,000 after purchasing an additional 1,245 shares during the period. Finally, Crewe Advisors LLC grew its holdings in Allstate by 5.1% in the 3rd quarter. Crewe Advisors LLC now owns 2,282 shares of the insurance provider’s stock valued at $433,000 after buying an additional 110 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Allstate Trading Up 2.9 %

Shares of Allstate stock opened at $207.80 on Wednesday. The stock has a market capitalization of $55.03 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 12-month low of $134.17 and a 12-month high of $208.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a 50-day simple moving average of $191.99 and a 200 day simple moving average of $178.36.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts expect that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.77%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group upped their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group raised their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Bank of America upped their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate 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.