Yarbrough Capital LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Yarbrough Capital LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,054 shares of the insurance provider’s stock, valued at approximately $333,000.

Other institutional investors have also recently made changes to their positions in the company. Butensky & Cohen Financial Security Inc. raised its stake in Allstate by 0.5% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 32,517 shares of the insurance provider’s stock worth $3,546,000 after buying an additional 159 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Allstate during the second quarter valued at about $349,000. Czech National Bank boosted its position in shares of Allstate by 0.4% in the 2nd quarter. Czech National Bank now owns 31,116 shares of the insurance provider’s stock worth $3,393,000 after purchasing an additional 133 shares in the last quarter. Level Four Advisory Services LLC boosted its position in shares of Allstate by 10.3% in the 2nd quarter. Level Four Advisory Services LLC now owns 9,327 shares of the insurance provider’s stock worth $1,017,000 after purchasing an additional 868 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Allstate by 37.2% in the 2nd quarter. SG Americas Securities LLC now owns 20,422 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 5,534 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALL. Piper Sandler lowered their price objective on Allstate from $137.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, August 3rd. StockNews.com initiated coverage on Allstate in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Barclays reduced their price objective on Allstate from $113.00 to $107.00 and set an “equal weight” rating for the company in a research note on Monday, August 14th. Raymond James reduced their price objective on Allstate from $155.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 3rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $117.00 price objective on shares of Allstate in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $135.31.

Allstate Stock Up 1.8 %

NYSE ALL traded up $2.01 on Tuesday, hitting $113.05. The company had a trading volume of 726,008 shares, compared to its average volume of 1,856,606. The company’s fifty day moving average price is $108.31 and its 200-day moving average price is $111.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.37. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $142.15.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported ($4.42) EPS for the quarter, missing analysts’ consensus estimates of ($3.83) by ($0.59). Allstate had a negative net margin of 4.80% and a negative return on equity of 14.69%. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $12.30 billion. During the same period in the previous year, the company earned ($0.76) EPS. Allstate’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that The Allstate Co. will post -1.99 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.89 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.15%. Allstate’s payout ratio is currently -34.40%.

Insider Buying and Selling at Allstate

In other news, Director Judith A. Sprieser sold 1,565 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $111.22, for a total value of $174,059.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.