Billionaire Louis Bacon’s Top 10 Long-Term Stock Picks

2. The Allstate Corporation (NYSE:ALL)

Number of Hedge Fund Holders: 62   

Moore Global Investments’ Stake: $45.7 million

The Allstate Corporation (NYSE:ALL) is one of the largest publicly held personal lines insurers in the United States. There are several key elements that position this company as an appealing choice for investors. Firstly, promising financial growth is depicted in the report for the third quarter of 2024. For instance, total revenues of $16.6 billion in the third quarter of 2024 were $2.1 billion or 14.7% above the prior-year quarter, driven by increased Property-Liability earned premium. Revenues increased by almost 15% from the prior year, net income was $1.2 billion for the quarter, and adjusted net income return on equity was 26.1% for the prior twelve months. Secondly, the company has launched two new investment funds, including a long-term strategic fund that aims to protect the parent company against future risks such as climate change.