Scissortail Wealth Management LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Scissortail Wealth Management LLC bought a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,483 shares of the insurance provider’s stock, valued at approximately $2,867,000. Allstate makes up approximately 0.9% of Scissortail Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Gradient Investments LLC increased its holdings in shares of Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock worth $578,000 after purchasing an additional 66 shares in the last quarter. SVB Wealth LLC increased its holdings in shares of Allstate by 1.2% in the 4th quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after purchasing an additional 72 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Allstate by 2.5% in the fourth quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 78 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after acquiring an additional 82 shares during the period. Finally, Carmel Capital Partners LLC grew its holdings in shares of Allstate by 19.2% in the third quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 83 shares during the period. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

ALL has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Jefferies Financial Group raised Allstate from a “hold” rating to a “buy” rating and boosted their price target for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company boosted their price target on Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Finally, UBS Group boosted their price target on Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned 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 $173.71.

Insider Buying and Selling at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Stock Down 1.0 %

Shares of NYSE:ALL traded down $1.63 during mid-day trading on Tuesday, reaching $164.13. The stock had a trading volume of 974,849 shares, compared to its average volume of 1,681,981. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $174.57. The business’s 50 day moving average price is $163.22 and its 200 day moving average price is $145.95.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.36) earnings per share. Sell-side analysts expect that The Allstate Co. will post 13.41 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is currently -296.77%.

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.