The Allstate Corporation (NYSE:ALL) Plans Dividend Increase – $1.08 Per Share

The Allstate Corporation (NYSE:ALL) declared a quarterly dividend on Wednesday, February 4th. Investors of record on Monday, March 2nd will be paid a dividend of 1.08 per share by the insurance provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, March 2nd. This is a 8.0% increase from Allstate’s previous quarterly dividend of $1.00.

Allstate has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 15 years. Allstate has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Allstate to earn $21.55 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 18.6%.

Allstate Price Performance

Shares of NYSE ALL traded up $8.76 during trading on Thursday, hitting $215.88. 1,495,140 shares of the company were exchanged, compared to its average volume of 1,831,255. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. Allstate has a 1 year low of $176.00 and a 1 year high of $216.62. The firm’s fifty day moving average price is $203.97 and its 200 day moving average price is $203.60. The company has a market cap of $56.49 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.44 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period in the prior year, the business posted $7.67 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Allstate will post 18.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALL shares. Keefe, Bruyette & Woods lifted their price objective on Allstate from $250.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Roth Mkm boosted their price target on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. UBS Group raised their price objective on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, November 10th. JPMorgan Chase & Co. lifted their price objective on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.31.

Allstate Company Profile

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.