Fintel reports that on April 12, 2023, B of A Securities maintained coverage of Allstate (NYSE:ALL) with a Buy recommendation.
Analyst Price Forecast Suggests 23.56% Upside
As of April 6, 2023, the average one-year price target for Allstate is $143.46. The forecasts range from a low of $105.04 to a high of $184.80. The average price target represents an increase of 23.56% from its latest reported closing price of $116.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Allstate is $48,790MM, a decrease of 5.10%. The projected annual non-GAAP EPS is $9.25.
Allstate Declares $0.89 Dividend
On February 17, 2023 the company declared a regular quarterly dividend of $0.89 per share ($3.56 annualized). Shareholders of record as of February 28, 2023 received the payment on April 3, 2023. Previously, the company paid $0.85 per share.
At the current share price of $116.10 / share, the stock's dividend yield is 3.07%. Looking back five years and taking a sample every week, the average dividend yield has been 2.31%, the lowest has been 1.61%, and the highest has been 3.33%. The standard deviation of yields is 0.36 (n=237).
The current dividend yield is 2.09 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.72. 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.
What are Other Shareholders Doing?
Cullen holds 10K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 9K shares, representing an increase of 5.63%. The firm decreased its portfolio allocation in ALL by 99.90% over the last quarter.
Humankind Investments holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing a decrease of 1.55%. The firm decreased its portfolio allocation in ALL by 99.90% over the last quarter.
Kovitz Investment Group Partners holds 22K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 23K shares, representing a decrease of 2.73%. The firm decreased its portfolio allocation in ALL by 99.91% over the last quarter.
VTCLX - Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares holds 109K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 110K shares, representing a decrease of 1.47%. The firm increased its portfolio allocation in ALL by 0.61% over the last quarter.
SWDSX - Schwab Dividend Equity Fund holds 70K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 85K shares, representing a decrease of 21.43%. The firm decreased its portfolio allocation in ALL by 16.97% over the last quarter.
What is the Fund Sentiment?
There are 2122 funds or institutions reporting positions in Allstate. This is a decrease of 9 owner(s) or 0.42% in the last quarter. Average portfolio weight of all funds dedicated to ALL is 0.38%, an increase of 1.52%. Total shares owned by institutions decreased in the last three months by 3.27% to 229,235K shares. The put/call ratio of ALL is 0.63, indicating a bullish outlook.
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.'
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.