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

The Allstate Corporation (NYSE:ALL) announced a quarterly dividend on Wednesday, February 4th. Investors of record on Monday, March 2nd will be given 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 payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Allstate has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. 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

Allstate stock traded up $8.76 during mid-day trading on Thursday, reaching $215.88. 1,495,140 shares of the company traded hands, compared to its average volume of 1,831,255. Allstate has a fifty-two week low of $176.00 and a fifty-two week high of $216.62. The firm’s fifty day moving average is $203.97 and its two-hundred day moving average is $203.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $56.49 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.44 and a beta of 0.23.

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

Insiders Place Their Bets

In other news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. The trade was a 17.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 48,400 shares of company stock valued at $10,313,256. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Allstate

A number of hedge funds have recently bought and sold shares of ALL. Vanguard Group Inc. lifted its stake in Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock worth $6,690,584,000 after purchasing an additional 435,145 shares during the last quarter. State Street Corp raised its holdings in shares of Allstate by 0.7% in the third quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock valued at $2,557,362,000 after buying an additional 85,468 shares during the last quarter. Geode Capital Management LLC raised its stake in Allstate by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock valued at $1,345,961,000 after acquiring an additional 79,366 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Allstate by 2.5% during the second quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock worth $940,140,000 after purchasing an additional 112,858 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after acquiring an additional 395,195 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.