The Allstate Co. (NYSE:ALL) Declares Quarterly Dividend of $0.85

The Allstate Co. (NYSE:ALLGet Rating) announced a quarterly dividend on Monday, May 23rd, RTT News reports. Stockholders of record on Friday, June 3rd will be paid a dividend of 0.85 per share by the insurance provider on Friday, July 1st. This represents a $3.40 annualized dividend and a dividend yield of 2.71%.

Allstate has increased its dividend by an average of 20.8% per year over the last three years and has increased its dividend every year for the last 13 years. Allstate has a dividend payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Allstate to earn $12.82 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 26.5%.

Shares of ALL opened at $125.66 on Tuesday. The business has a 50-day moving average of $134.34 and a 200 day moving average of $124.19. Allstate has a fifty-two week low of $106.11 and a fifty-two week high of $144.46. The firm has a market cap of $34.55 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 2.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALLGet Rating) last posted its earnings results on Wednesday, May 4th. The insurance provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.21). The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $11.14 billion. Allstate had a net margin of 7.20% and a return on equity of 12.50%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.11 EPS. As a group, research analysts predict that Allstate will post 9.1 earnings per share for the current fiscal year.

A number of equities analysts have commented on ALL shares. Credit Suisse Group assumed coverage on Allstate in a research note on Thursday, April 28th. They issued an “outperform” rating and a $188.00 price target on the stock. Zacks Investment Research raised Allstate from a “sell” rating to a “hold” rating and set a $104.00 target price on the stock in a report on Thursday, March 10th. Argus downgraded Allstate from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler lowered their price target on Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, April 22nd. Finally, Barclays upped their price target on Allstate from $119.00 to $141.00 and gave the company an “equal weight” rating in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.57.

In other news, CAO John C. Pintozzi sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $123.87, for a total value of $371,610.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.77% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC lifted its stake in shares of Allstate by 5.1% during the 4th quarter. Belpointe Asset Management LLC now owns 3,775 shares of the insurance provider’s stock worth $444,000 after acquiring an additional 183 shares during the last quarter. Kinneret Advisory LLC increased its holdings in Allstate by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 9,242 shares of the insurance provider’s stock worth $1,288,000 after purchasing an additional 207 shares during the period. Wealthsource Partners LLC increased its holdings in shares of Allstate by 9.3% in the 4th quarter. Wealthsource Partners LLC now owns 2,758 shares of the insurance provider’s stock valued at $325,000 after acquiring an additional 234 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Allstate by 6.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,342 shares of the insurance provider’s stock valued at $601,000 after acquiring an additional 247 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Allstate by 2.5% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,865 shares of the insurance provider’s stock valued at $1,643,000 after acquiring an additional 290 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.

Allstate Company Profile (Get Rating)

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; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Dividend History for Allstate (NYSE:ALL)

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