Allstate Corporation (The) (NYSE:ALL) Declares $0.37 Quarterly Dividend
Allstate Corporation (The) (NYSE:ALL) announced a quarterly dividend on Tuesday, July 11th, RTT News reports. Shareholders of record on Thursday, August 31st will be given a dividend of 0.37 per share by the insurance provider on Monday, October 2nd. This represents a $1.48 annualized dividend and a yield of 1.67%.
Allstate Corporation (The) has increased its dividend by an average of 19.8% per year over the last three years and has raised its dividend every year for the last 6 years. Allstate Corporation (The) has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Allstate Corporation (The) to earn $6.95 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 21.3%.
Allstate Corporation (NYSE ALL) traded down 0.87% during midday trading on Tuesday, reaching $88.08. 1,045,525 shares of the company’s stock traded hands. Allstate Corporation has a 52-week low of $66.55 and a 52-week high of $90.74. The firm has a market cap of $32.11 billion, a PE ratio of 14.93 and a beta of 1.10. The firm’s 50-day moving average is $86.83 and its 200 day moving average is $80.91.
Allstate Corporation (The) (NYSE:ALL) last issued its earnings results on Wednesday, May 3rd. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.60. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.36 billion. Allstate Corporation (The) had a net margin of 6.27% and a return on equity of 11.45%. Equities research analysts expect that Allstate Corporation will post $6.12 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on ALL. Wells Fargo & Company reiterated a “buy” rating on shares of Allstate Corporation (The) in a research note on Saturday, June 24th. Barclays PLC dropped their target price on shares of Allstate Corporation (The) from $101.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. BidaskClub upgraded shares of Allstate Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. FBR & Co upped their target price on shares of Allstate Corporation (The) from $70.00 to $82.00 and gave the stock a “mkt perform” rating in a research note on Monday, April 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $91.00 target price (up previously from $85.00) on shares of Allstate Corporation (The) in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Allstate Corporation (The) has a consensus rating of “Buy” and an average price target of $87.00.
WARNING: This piece of content was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/11/allstate-corporation-the-nyseall-declares-0-37-quarterly-dividend.html.
In other Allstate Corporation (The) news, President Matthew E. Winter sold 33,956 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $81.01, for a total transaction of $2,750,775.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gupta sold 16,578 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $90.74, for a total transaction of $1,504,287.72. Following the sale, the insider now directly owns 68,780 shares of the company’s stock, valued at $6,241,097.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,157 shares of company stock valued at $14,191,466. 1.58% of the stock is owned by corporate insiders.
About Allstate Corporation (The)
The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
Receive News & Ratings for Allstate Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.