Allstate Corp said on May 22, 2023 that its board of directors declared a regular quarterly dividend of $0.89 per share ($3.56 annualized). Previously, the company paid $0.89 per share.
Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on July 3, 2023.
At the current share price of $118.09 / share, the stock's dividend yield is 3.01%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.33%, the lowest has been 1.61%, and the highest has been 3.33%. The standard deviation of yields is 0.38 (n=237).
The current dividend yield is 1.81 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.65%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 2047 funds or institutions reporting positions in Allstate Corp. This is a decrease of 123 owner(s) or 5.67% in the last quarter. Average portfolio weight of all funds dedicated to ALL is 0.32%, a decrease of 13.78%. Total shares owned by institutions decreased in the last three months by 2.57% to 226,506K shares. The put/call ratio of ALL is 0.68, indicating a bullish outlook.
Analyst Price Forecast Suggests 20.74% Upside
As of May 11, 2023, the average one-year price target for Allstate Corp is 142.58. The forecasts range from a low of 101.00 to a high of $184.80. The average price target represents an increase of 20.74% from its latest reported closing price of 118.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Allstate Corp is 48,790MM, a decrease of 7.70%. The projected annual non-GAAP EPS is 9.25.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,059K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 8,063K shares, representing a decrease of 0.05%. The firm increased its portfolio allocation in ALL by 0.50% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,131K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 6,127K shares, representing an increase of 0.06%. The firm increased its portfolio allocation in ALL by 0.38% over the last quarter.
Price T Rowe Associates holds 6,039K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 5,540K shares, representing an increase of 8.26%. The firm decreased its portfolio allocation in ALL by 17.10% over the last quarter.
Geode Capital Management holds 5,815K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 5,752K shares, representing an increase of 1.09%. The firm decreased its portfolio allocation in ALL by 23.58% over the last quarter.
Charles Schwab Investment Management holds 5,531K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 5,928K shares, representing a decrease of 7.19%. The firm decreased its portfolio allocation in ALL by 36.76% over the last quarter.
Allstate Corp Background Information
(This description is provided by the company.)
The Allstate Corporation protects people from life's uncertainties with a wide array of protection for autos, homes, electronic devices and identity theft with more than 172 million policies in force. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. Allstate is widely known for the slogan 'You're in Good Hands with Allstate.'
Key filings for this company:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTI
This story originally appeared on Fintel.
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