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

Key Points

• Mitsubishi UFJ Asset Management boosted its stake in Allstate by 5.1%, buying 26,586 shares to hold 552,120 shares worth about $112.53 million (≈0.21% of the company) at quarter-end.
• Allstate beat expectations for the quarter with EPS of $10.65 vs. $7.31 est. and revenue of $16.94 billion vs. $15.24 billion, posting a 17.81% net margin and 42.66% ROE; analysts have a consensus "Moderate Buy" and a $241.33 target.
• Insider activity: COO Mario Rizzo sold 18,578 shares at an average $218.80 (≈$4.06 million), reducing his position by 18.43%, while insiders hold about 1.55% of the stock.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,120 shares of the insurance provider's stock after buying an additional 26,586 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Allstate worth $112,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. AssuredPartners Investment Advisors LLC raised its position in shares of Allstate by 113.5% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 2,474 shares of the insurance provider's stock valued at $515,000 after buying an additional 1,315 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Allstate by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,284 shares of the insurance provider's stock valued at $8,177,000 after acquiring an additional 468 shares during the last quarter. Garner Asset Management Corp bought a new position in Allstate in the fourth quarter valued at $38,000. McIlrath & Eck LLC raised its position in Allstate by 1,533.3% during the fourth quarter. McIlrath & Eck LLC now owns 196 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 184 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Allstate by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 313,681 shares of the insurance provider's stock worth $65,293,000 after purchasing an additional 5,804 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALL shares. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, March 23rd. Citigroup increased their price target on shares of Allstate from $221.00 to $226.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. Evercore set a $225.00 target price on shares of Allstate in a research report on Wednesday, January 7th. Finally, Wall Street Zen downgraded shares of Allstate from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $241.33.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.55% of the stock is owned by insiders.

Allstate Stock Down 0.3%

Shares of NYSE ALL opened at $217.95 on Thursday. The firm's fifty day moving average is $210.82 and its 200 day moving average is $206.14. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $222.23. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.53 EPS. On average, equities research analysts expect that The Allstate Corporation will post 27.62 earnings per share for the current year.

About Allstate

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.

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