The Allstate Co. (NYSE:ALL) Plans Quarterly Dividend of $1.00

The Allstate Co. (NYSE:ALL - Get Free Report) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Shareholders of record on Monday, June 9th will be given a dividend of 1.00 per share by the insurance provider on Tuesday, July 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, June 9th.

Allstate has raised its dividend by an average of 4.3% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Allstate has a payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

ALL traded up $2.89 during trading on Friday, reaching $209.65. 2,491,873 shares of the company's stock were exchanged, compared to its average volume of 1,612,656. Allstate has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $199.47 and a 200 day moving average price of $196.76. The company has a market capitalization of $55.52 billion, a P/E ratio of 12.34, a PEG ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the prior year, the firm earned $5.13 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Allstate will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. Barclays cut their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Wells Fargo & Company cut their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Raymond James reissued a "strong-buy" rating and set a $250.00 price objective (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $225.20.

Institutional Trading of Allstate

A hedge fund recently raised its stake in Allstate stock. Brighton Jones LLC increased its position in The Allstate Co. (NYSE:ALL - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,500 shares of the insurance provider's stock after purchasing an additional 2,443 shares during the quarter. Brighton Jones LLC's holdings in Allstate were worth $1,253,000 as of its most recent SEC filing. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.