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

Scissortail Wealth Management LLC purchased a new position in The Allstate Co. (NYSE:ALL) in the 4th quarter, HoldingsChannel reports. The fund purchased 20,483 shares of the insurance provider’s stock, valued at approximately $2,867,000. Allstate comprises approximately 0.9% of Scissortail Wealth Management LLC’s holdings, making the stock its 29th biggest position.

Several other institutional investors have also modified their holdings of ALL. Vanguard Group Inc. grew its stake in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Allstate by 123.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock worth $751,264,000 after purchasing an additional 3,064,105 shares in the last quarter. Cowa LLC acquired a new position in shares of Allstate during the first quarter worth $30,000. Norges Bank acquired a new position in shares of Allstate during the fourth quarter worth $190,865,000. Finally, Invesco Ltd. grew its stake in shares of Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. Raymond James boosted their price target on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. The Goldman Sachs Group boosted their price target on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, BMO Capital Markets boosted their price target on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.71.

Insiders Place Their Bets

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Down 1.0 %

NYSE ALL traded down $1.63 during trading hours on Tuesday, hitting $164.13. 974,849 shares of the stock were exchanged, compared to its average volume of 1,681,981. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $174.57. The stock has a 50-day moving average of $163.22 and a 200 day moving average of $145.95. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.92 per share. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend 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.