The Allstate Co. (NYSE:ALL) Position Raised by Brown Brothers Harriman & Co.

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Allstate during the third quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate in the 3rd quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. bought a new position in shares of Allstate during the 2nd quarter valued at about $38,000. Finally, MCF Advisors LLC grew its stake in shares of Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 2.9 %

Shares of NYSE:ALL opened at $207.80 on Wednesday. The firm has a fifty day moving average of $191.99 and a two-hundred day moving average of $178.36. 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 Allstate Co. has a 12-month low of $134.17 and a 12-month high of $208.23. The firm 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.

Allstate (NYSE:ALL) last released its quarterly earnings data 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. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts expect that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is presently 23.83%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALL. Evercore ISI increased their target price on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their price objective on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday. BMO Capital Markets upped their target price on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

About Allstate

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.