The Allstate Co. Plans Quarterly Dividend of $0.81 (NYSE:ALL)

The Allstate Co. (NYSE:ALL) declared a quarterly dividend on Friday, November 19th, RTT News reports. Stockholders of record on Tuesday, November 30th will be given a dividend of 0.81 per share by the insurance provider on Monday, January 3rd. This represents a $3.24 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, November 29th.

Allstate has increased its dividend by 46.0% over the last three years and has increased its dividend every year for the last 12 years. Allstate has a dividend payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allstate to earn $11.24 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 28.8%.

ALL stock opened at $115.12 on Friday. The company has a fifty day moving average price of $123.16 and a 200-day moving average price of $129.52. The company has a market capitalization of $33.00 billion, a P/E ratio of 10.64, a PEG ratio of 1.13 and a beta of 0.83. Allstate has a 52-week low of $102.15 and a 52-week high of $140.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.47 and a current ratio of 0.47.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 3rd. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.89). The business had revenue of $12.38 billion for the quarter. Allstate had a net margin of 6.87% and a return on equity of 19.68%. During the same period in the prior year, the firm earned $2.94 earnings per share. As a group, sell-side analysts forecast that Allstate will post 13.52 earnings per share for the current fiscal year.

Several research firms have recently issued reports on ALL. Raymond James downgraded shares of Allstate from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $150.00 to $140.00 in a research note on Thursday, November 4th. Barclays cut shares of Allstate from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $147.00 to $123.00 in a research report on Wednesday, November 10th. Wolfe Research assumed coverage on shares of Allstate in a research report on Monday, August 16th. They set a “peer perform” rating and a $130.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Allstate from $144.00 to $137.00 and set an “equal weight” rating for the company in a research report on Friday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Allstate from $154.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, November 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $134.21.

Allstate declared that its board has initiated a stock buyback plan on Wednesday, August 4th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 13% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

An institutional investor recently bought a new position in Allstate stock. OLD Mission Capital LLC acquired a new stake in The Allstate Co. (NYSE:ALL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 60,186 shares of the insurance provider’s stock, valued at approximately $5,666,000. Institutional investors and hedge funds own 75.07% of the company’s stock.

Allstate Company Profile

The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Life, Allstate Benefits, Allstate Annuities, Discontinued Lines and Coverages, and Corporate and Other.

Featured Story: Trading on Margin

Dividend History for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.