The Allstate Co. (NYSE:ALL) Increases Dividend to $1.00 Per Share

The Allstate Co. (NYSE:ALL) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 1.00 per share by the insurance provider on Tuesday, April 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.12%. This is a boost from Allstate’s previous quarterly dividend of $0.92.

Allstate has raised its dividend by an average of 4.3% per year over the last three years and has raised its dividend every year for the last 14 years. Allstate has a dividend payout ratio of 17.4% meaning 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 $3.68 annual dividend with an expected future payout ratio of 17.1%.

Allstate Stock Performance

Shares of Allstate stock traded down $2.13 on Wednesday, reaching $188.35. 1,269,185 shares of the company traded hands, compared to its average volume of 1,826,510. The firm has a market capitalization of $49.87 billion, a PE ratio of 11.09, a PEG ratio of 1.01 and a beta of 0.52. 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 company has a 50 day moving average of $190.06 and a 200 day moving average of $190.70. Allstate has a 52 week low of $153.87 and a 52 week high of $209.88.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities analysts forecast that Allstate will post 18.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALL shares. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Piper Sandler upped their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays cut their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% 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. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.