Mitsubishi UFJ Asset Management Co. Ltd. Invests $150.53 Million in The Allstate Corporation $ALL

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 632,615 shares of the insurance provider’s stock, valued at approximately $150,525,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Allstate as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Norges Bank purchased a new position in Allstate during the fourth quarter valued at $531,294,000. Bank of New York Mellon Corp acquired a new position in shares of Allstate during the 2nd quarter worth about $425,484,000. GQG Partners LLC lifted its stake in Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after buying an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Allstate by 29.2% in the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in Allstate in the 3rd quarter worth about $148,641,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ALL shares. Cantor Fitzgerald increased their target price on Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a research report on Tuesday, August 11th. Atlantic Securities set a $319.00 price objective on Allstate in a research note on Wednesday, July 15th. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and raised their price objective for the company from $226.00 to $240.00 in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $265.53.

Allstate Stock Performance

Shares of Allstate stock opened at $257.88 on Tuesday. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The company has a market cap of $65.21 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.41 and a beta of 0.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50 day moving average price is $247.38 and its 200 day moving average price is $223.47.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The company had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.94 earnings per share. On average, research analysts predict that The Allstate Corporation will post 33.92 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s payout ratio is presently 8.63%.

Insider Activity

In related news, insider John E. Dugenske sold 32,996 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This trade represents a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 92,996 shares of company stock worth $24,543,894. Company insiders own 1.55% of the company’s stock.

Allstate Company Profile

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.