Tokio Marine Asset Management Co. Ltd. Makes New $5.38 Million Investment in ALLETE, Inc. (NYSE:ALE)

Tokio Marine Asset Management Co. Ltd. bought a new position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 83,000 shares of the utilities provider's stock, valued at approximately $5,378,000. Tokio Marine Asset Management Co. Ltd. owned approximately 0.14% of ALLETE as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ALE. Glazer Capital LLC bought a new position in shares of ALLETE in the 3rd quarter valued at about $5,766,000. Barclays PLC increased its holdings in shares of ALLETE by 187.1% during the third quarter. Barclays PLC now owns 100,079 shares of the utilities provider's stock worth $6,425,000 after buying an additional 65,222 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of ALLETE by 107.8% during the third quarter. Jane Street Group LLC now owns 121,631 shares of the utilities provider's stock valued at $7,807,000 after purchasing an additional 63,091 shares in the last quarter. Verition Fund Management LLC increased its position in ALLETE by 91.6% in the 3rd quarter. Verition Fund Management LLC now owns 96,387 shares of the utilities provider's stock valued at $6,187,000 after acquiring an additional 46,089 shares during the period. Finally, Alpine Associates Management Inc. grew its position in shares of ALLETE by 12.9% in the 3rd quarter. Alpine Associates Management Inc. now owns 398,047 shares of the utilities provider's stock valued at $25,551,000 after buying an additional 45,447 shares during the last quarter. Institutional investors own 76.55% of the company's stock.

ALLETE Trading Down 0.1 %

Shares of ALLETE stock traded down $0.05 during trading on Wednesday, reaching $65.64. 213,370 shares of the stock were exchanged, compared to its average volume of 410,392. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average is $65.03 and its 200 day moving average is $64.45. ALLETE, Inc. has a 1 year low of $55.86 and a 1 year high of $65.95. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 21.04 and a beta of 0.80.

ALLETE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date is Friday, February 14th. This is a boost from ALLETE's previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 4.45%. ALLETE's payout ratio is currently 90.38%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on ALLETE in a research note on Friday, January 10th. They set a "hold" rating for the company.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.