The Allstate Co. (NYSE:ALL) to Issue $1.00 Quarterly Dividend

The Allstate Co. (NYSE:ALL) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Investors of record on Monday, June 9th will be paid a dividend of 1.00 per share by the insurance provider on Tuesday, July 1st. This represents a $4.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, June 9th.

Allstate has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Allstate has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Allstate to earn $21.55 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 18.6%.

Allstate Trading Up 0.8%

NYSE:ALL opened at $206.64 on Friday. The stock’s 50-day moving average is $199.44 and its two-hundred day moving average is $196.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a market cap of $54.72 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $16.41 billion. During the same period in the previous year, the firm posted $5.13 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Allstate will post 18.74 earnings per share for the current fiscal year.

Institutional Trading of Allstate

An institutional investor recently raised its position in Allstate stock. Brighton Jones LLC grew its position in The Allstate Co. (NYSE:ALL) by 60.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,500 shares of the insurance provider’s stock after purchasing an additional 2,443 shares during the period. Brighton Jones LLC’s holdings in Allstate were worth $1,253,000 as of its most recent filing with the SEC. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Allstate in a report on Friday, May 16th. Wall Street Zen upgraded Allstate from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Raymond James reissued a “strong-buy” rating and issued a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Evercore ISI upped their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate announced that its board has approved a stock buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

About Allstate

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.