The Allstate Co. (NYSE:ALL – Get Free Report) 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.
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.
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.
- Five stocks we like better than Allstate
- 3 Healthcare Dividend Stocks to Buy
- Williams-Sonoma is a steal for buy-and-hold investors
- 3 Tickers Leading a Meme Stock Revival
- A closer look at Warren Buffett’s latest surprise purchase
- What Are Defense Contractor Stocks? How to Invest in Defense
- GE stock surges to six-year high: What’s behind the move?
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.