Mitsubishi UFJ Trust & Banking Corp Boosts Stock Holdings in The Allstate Corporation $ALL

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,011 shares of the insurance provider’s stock after acquiring an additional 7,760 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Allstate were worth $34,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Harbor Capital Advisors Inc. boosted its stake in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after buying an additional 73 shares during the last quarter. Clearstead Trust LLC increased its holdings in Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Allstate by 315.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after buying an additional 126 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in Allstate in the 2nd quarter worth about $34,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Down 0.9%

ALL opened at $193.54 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.89. The company has a market capitalization of $50.65 billion, a PE ratio of 6.27, a PEG ratio of 0.42 and a beta of 0.24. The firm’s 50 day simple moving average is $205.96 and its two-hundred day simple moving average is $203.38.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.91 EPS. As a group, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a $1.00 dividend. The ex-dividend date was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Allstate’s dividend payout ratio is presently 12.95%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,660,025.66. The trade was a 17.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 48,400 shares of company stock valued at $10,313,256 over the last 90 days. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group set a $227.00 price objective on shares of Allstate in a research report on Wednesday, January 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $215.00 target price (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price target on Allstate from $250.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Finally, William Blair downgraded Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $236.19.

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.