The Allstate Corporation (NYSE:ALL) Announces Quarterly Dividend of $1.08

The Allstate Corporation (NYSE:ALL) declared a quarterly dividend on Wednesday, July 8th. Investors of record on Monday, August 31st will be paid a dividend of 1.08 per share by the insurance provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st.

Allstate has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Allstate has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Allstate to earn $26.47 per share next year, which means the company should continue to be able to cover its $4.32 annual dividend with an expected future payout ratio of 16.3%.

Allstate Price Performance

Shares of NYSE ALL opened at $251.29 on Thursday. Allstate has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. The business has a 50 day moving average price of $222.73 and a two-hundred day moving average price of $212.44. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $64.69 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.53 EPS. Sell-side analysts expect that Allstate will post 29.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALL has been the topic of several recent analyst reports. Raymond James Financial upped their price target on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a report on Monday. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and upped their target price for the company from $244.00 to $264.00 in a research note on Monday. Barclays increased their price target on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.95.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.