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

The Allstate Co. (NYSE:ALL - Get Free Report) announced 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 every year for the last 14 years. Allstate has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of Allstate stock traded down $1.45 on Thursday, hitting $195.85. 953,112 shares of the company traded hands, compared to its average volume of 1,543,036. The firm's 50-day simple moving average is $189.58 and its 200 day simple moving average is $176.40. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company has a market cap of $51.86 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.77 and a beta of 0.48. Allstate has a 12-month low of $130.77 and a 12-month high of $201.00.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analysts' expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. Analysts expect that Allstate will post 16.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allstate news, CEO Thomas J. Wilson sold 90,000 shares of Allstate stock in a transaction dated 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 approximately $15,880,915.68. The trade was a 50.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now directly owns 19,163 shares of the company's stock, valued at $3,431,901.67. This trade represents a 72.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,530 shares of company stock valued at $34,967,665 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALL. Bank of America lifted their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their target price on shares of Allstate from $199.00 to $204.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their price target on shares of Allstate from $175.00 to $186.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Raymond James raised their price target on shares of Allstate from $205.00 to $220.00 and gave the stock a "strong-buy" rating in a report on Friday, October 4th. Finally, Piper Sandler raised their price target on shares of Allstate from $188.00 to $196.00 and gave the stock an "overweight" rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $212.56.

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.