The Allstate Co. (NYSE:ALL) to Issue Dividend Increase – $0.92 Per Share

The Allstate Co. (NYSE:ALLGet Free Report) declared a quarterly dividend on Friday, February 23rd, RTT News reports. Stockholders of record on Monday, March 4th will be paid a dividend of 0.92 per share by the insurance provider on Monday, April 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89.

Allstate has increased its dividend payment by an average of 18.1% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Allstate has a dividend payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allstate to earn $16.49 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 21.6%.

Allstate Price Performance

Shares of NYSE:ALL opened at $160.57 on Thursday. The firm’s 50 day moving average price is $153.03 and its 200-day moving average price is $132.82. Allstate has a twelve month low of $100.57 and a twelve month high of $168.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $42.24 billion, a PE ratio of -129.49, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last released its 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 company had revenue of $14.83 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.36) EPS. Equities research analysts expect that Allstate will post 12.95 EPS for the current year.

Analyst Ratings Changes

ALL has been the subject of several analyst reports. UBS Group increased their target price on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Piper Sandler increased their price objective on shares of Allstate from $137.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. TD Cowen initiated coverage on shares of Allstate in a report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.12.

Check Out Our Latest Stock Report on ALL

Hedge Funds Weigh In On Allstate

Several institutional investors have recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD increased 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 valued at $751,264,000 after buying an additional 3,064,105 shares during the period. Cowa LLC purchased a new position in Allstate in the first quarter valued at about $30,000. Norges Bank purchased a new position in Allstate in the fourth quarter valued at about $190,865,000. Morgan Stanley grew its stake in Allstate by 29.0% in the fourth quarter. Morgan Stanley now owns 3,563,628 shares of the insurance provider’s stock valued at $483,228,000 after purchasing an additional 800,665 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Allstate by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,850,782 shares of the insurance provider’s stock valued at $3,442,082,000 after purchasing an additional 745,096 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

About Allstate

(Get Free Report)

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; other personal lines products; 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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