The Allstate Co. (NYSE:ALL) to Issue $0.92 Quarterly Dividend

The Allstate Co. (NYSE:ALL) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.92 per share by the insurance provider on Thursday, January 2nd. This represents a $3.68 annualized dividend and a dividend yield of 1.88%.

Allstate has increased its dividend payment by an average of 18.1% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Allstate has a payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Allstate to earn $19.07 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 19.3%.

Allstate Stock Down 0.7 %

NYSE ALL opened at $195.85 on Friday. Allstate has a 52 week low of $130.77 and a 52 week high of $201.00. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $189.58 and its 200-day simple moving average is $176.40. The firm has a market cap of $51.86 billion, a PE ratio of 12.68, a P/E/G ratio of 1.77 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. As a group, equities analysts anticipate that Allstate will post 16.02 earnings per share for the current year.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at $15,880,915.68. This trade represents a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,049 shares of company stock valued at $26,106,112. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ALL has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. UBS Group boosted their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Piper Sandler boosted their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Evercore ISI boosted their price target on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.56.

Allstate Company Profile

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.