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

The Allstate Corporation (NYSE:ALL) announced a quarterly dividend on Friday, May 22nd. Investors of record on Monday, June 1st will be paid a dividend of 1.08 per share by the insurance provider on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, June 1st.

Allstate has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Allstate has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Allstate to earn $26.27 per share next year, which means the company should continue to be able to cover its $4.32 annual dividend with an expected future payout ratio of 16.4%.

Allstate Stock Down 0.4%

Shares of NYSE ALL opened at $206.51 on Friday. Allstate has a 12-month low of $188.08 and a 12-month high of $227.62. The stock has a market cap of $53.16 billion, a PE ratio of 4.56, a P/E/G ratio of 0.37 and a beta of 0.21. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $212.70 and a 200 day moving average of $208.55.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the company posted $3.53 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Allstate will post 29.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Allstate

A number of hedge funds have recently made changes to their positions in the stock. Ipsen Advisor Group LLC boosted its position in shares of Allstate by 2.0% during the 1st quarter. Ipsen Advisor Group LLC now owns 2,998 shares of the insurance provider’s stock worth $622,000 after purchasing an additional 58 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Allstate by 16.7% during the 1st quarter. Glenmede Trust Co. NA now owns 125,729 shares of the insurance provider’s stock worth $26,069,000 after purchasing an additional 17,951 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Allstate during the 1st quarter worth approximately $288,000. Groupe la Francaise boosted its position in shares of Allstate by 5.6% during the 1st quarter. Groupe la Francaise now owns 18,926 shares of the insurance provider’s stock worth $3,924,000 after purchasing an additional 1,001 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in Allstate during the 1st quarter worth approximately $94,000. Hedge funds and other institutional investors 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.