Mitsubishi UFJ Asset Management Co. Ltd. Acquires 34,012 Shares of The Allstate Corporation $ALL

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in The Allstate Corporation (NYSE:ALL) by 7.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 503,640 shares of the insurance provider’s stock after purchasing an additional 34,012 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Allstate were worth $101,388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALL. Arlington Trust Co LLC boosted its position in Allstate by 261.8% in the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Allstate in the 1st quarter worth $28,000. Caitong International Asset Management Co. Ltd raised its holdings in Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 126 shares during the period. Hilltop National Bank purchased a new position in shares of Allstate in the second quarter valued at about $34,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALL. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Citigroup upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research upgraded shares of Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Jefferies Financial Group raised their target price on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.53.

Allstate Stock Up 2.2%

Shares of NYSE ALL opened at $202.29 on Friday. The stock has a market capitalization of $52.94 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $201.86 and its 200-day moving average price is $201.19.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.91 EPS. On average, equities research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.