Mitsubishi UFJ Asset Management Co. Ltd. Buys 26,586 Shares of The Allstate Corporation $ALL

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 552,120 shares of the insurance provider’s stock after purchasing an additional 26,586 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Allstate were worth $112,533,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dorato Capital Management bought a new stake in shares of Allstate during the 4th quarter valued at about $27,000. Barnes Dennig Private Wealth Management LLC raised its stake in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Princeton Global Asset Management LLC lifted its holdings in Allstate by 101.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after buying an additional 76 shares during the period. Palisade Asset Management LLC purchased a new stake in Allstate in the third quarter worth about $31,000. Finally, South Plains Financial Inc. boosted its position in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 49 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.55% of the company’s stock.

Allstate Stock Down 0.3%

Allstate stock opened at $217.95 on Thursday. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $222.23. The stock has a fifty day simple moving average of $210.82 and a two-hundred day simple moving average of $206.14. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $56.11 billion, a price-to-earnings ratio of 4.81, a PEG ratio of 0.42 and a beta of 0.21.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the company posted $3.53 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts predict that The Allstate Corporation will post 27.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price target on shares of Allstate in a research report on Thursday, February 5th. Citigroup increased their price objective on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $241.33.

Allstate 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.