5 Best Insurance Dividend Stocks To Buy Now

2. The Allstate Corporation (NYSE:ALL)

Number of Hedge Fund Holders: 37
Dividend Yield as of April 5: 3.15%

The Allstate Corporation (NYSE:ALL) is one of the leading providers of supplemental insurance coverage, based in Illinois, US. On February 17, the company announced a 4.7% increase in its quarterly dividend to $0.89 per share. This was the company’s 15th consecutive year of dividend growth. The stock’s dividend yield came in at 3.15% on April 5.

In April, Piper Sandler raised its price target on The Allstate Corporation (NYSE:ALL) to $150 with an Overweight rating on the shares, presenting a positive stance on the property casualty insurers. The firm further mentioned that the sector will be defensive in a volatile financial market.

The number of hedge funds tracked by Insider Monkey owning stakes in The Allstate Corporation (NYSE:ALL) stood at 37 in Q4 2022. The stakes owned by these hedge funds have a total value of over $401 million.