The Allstate Co. (ALL) to Issue Quarterly Dividend of $0.89 on January 2nd

The Allstate Co. (NYSE:ALL) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Investors of record on Thursday, November 30th will be paid a dividend of 0.89 per share by the insurance provider on Tuesday, January 2nd. This represents a $3.56 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, November 29th.

Allstate has increased its dividend payment by an average of 19.4% 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 31.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Allstate to earn $12.38 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 28.8%.

Allstate Stock Up 2.4 %

Shares of ALL stock opened at $134.75 on Friday. The stock has a market cap of $35.26 billion, a P/E ratio of -16.99 and a beta of 0.52. Allstate has a one year low of $100.57 and a one year high of $142.15. The stock has a fifty day moving average price of $119.82 and a 200 day moving average price of $113.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.35 and a quick ratio of 0.35.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, November 2nd. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.39 by $0.42. The firm had revenue of $14.50 billion during the quarter, compared to analysts’ expectations of $12.78 billion. Allstate had a negative return on equity of 10.95% and a negative net margin of 3.51%. Allstate’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned ($1.56) earnings per share. Analysts predict that Allstate will post -2.16 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup raised their target price on Allstate from $135.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. JPMorgan Chase & Co. dropped their price objective on Allstate from $162.00 to $154.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. StockNews.com upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday. Raymond James increased their price objective on Allstate from $145.00 to $155.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 6th. Finally, Jefferies Financial Group increased their price objective on Allstate from $117.00 to $119.00 in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.50.

Hedge Funds Weigh In On Allstate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its holdings in Allstate by 2.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock worth $436,000 after buying an additional 78 shares during the last quarter. Equitable Holdings Inc. boosted its holdings in Allstate by 1.9% during the first quarter. Equitable Holdings Inc. now owns 6,169 shares of the insurance provider’s stock worth $684,000 after buying an additional 116 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Allstate by 6.3% during the second quarter. Harbour Investments Inc. now owns 1,995 shares of the insurance provider’s stock worth $218,000 after buying an additional 118 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Allstate by 3.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,687 shares of the insurance provider’s stock valued at $402,000 after purchasing an additional 122 shares in the last quarter. Finally, Veritable L.P. lifted its holdings in shares of Allstate by 0.8% during the 1st quarter. Veritable L.P. now owns 16,944 shares of the insurance provider’s stock valued at $1,878,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

About Allstate

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.