Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in The Allstate Corporation $ALL

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in The Allstate Corporation (NYSE:ALL) during the second quarter, Holdings Channel.com reports. The firm bought 632,615 shares of the insurance provider’s stock, valued at approximately $150,525,000.

Several other large investors have also modified their holdings of ALL. MV Capital Management Inc. acquired a new stake in shares of Allstate during the 4th quarter worth about $25,000. Navalign LLC acquired a new position in Allstate in the fourth quarter valued at about $27,000. Kelleher Financial Advisors purchased a new position in Allstate during the second quarter worth about $28,000. Evolution Wealth Management Inc. boosted its stake in Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in shares of Allstate during the second quarter valued at about $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 1.4%

Shares of ALL opened at $257.88 on Tuesday. The stock has a market capitalization of $65.21 billion, a PE ratio of 5.15, a P/E/G ratio of 0.41 and a beta of 0.16. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. 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 company’s 50-day simple moving average is $247.38 and its 200-day simple moving average is $223.47.

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

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company downgraded shares of Allstate from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Piper Sandler increased their price objective on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, UBS Group upped their price target on Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Hold” and an average price target of $265.53.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is currently owned by corporate insiders.

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.