Allstate Corp (ALL) Declares Quarterly Dividend of $0.50

Allstate Corp (NYSE:ALL) announced a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Investors of record on Thursday, February 28th will be paid a dividend of 0.50 per share by the insurance provider on Monday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, February 27th. This is a boost from Allstate’s previous quarterly dividend of $0.46.

Allstate has increased its dividend payment by an average of 14.0% annually over the last three years and has increased its dividend every year for the last 8 years. Allstate has a dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Allstate to earn $9.80 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 20.4%.

Shares of NYSE ALL traded up $0.07 during mid-day trading on Monday, hitting $92.53. 2,369,343 shares of the company were exchanged, compared to its average volume of 2,708,148. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.26. Allstate has a 1-year low of $77.00 and a 1-year high of $102.73. The company has a market cap of $31.85 billion, a PE ratio of 11.47, a P/E/G ratio of 1.20 and a beta of 0.82.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.23. Allstate had a return on equity of 14.00% and a net margin of 5.66%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.66 billion. During the same period last year, the company earned $2.09 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts anticipate that Allstate will post 9.24 earnings per share for the current fiscal year.

Several brokerages recently weighed in on ALL. Citigroup decreased their price target on Allstate from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Wells Fargo & Co set a $100.00 price target on Allstate and gave the stock a “hold” rating in a report on Thursday, December 13th. ValuEngine downgraded Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised Allstate from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Tuesday, January 8th. Finally, Credit Suisse Group decreased their price target on Allstate from $112.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, December 20th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Allstate has a consensus rating of “Hold” and an average target price of $101.27.

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Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Dividend History for Allstate (NYSE:ALL)

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