Billionaire Nelson Peltz’s 8 Stock Picks with Highest Upside Potential

6. The Allstate Corporation (NYSE:ALL)

Trian Partners’ Stake: $59,132,934 

Number of Hedge Fund Holders: 71

Analyst Upside Potential: 16.61%

The Allstate Corporation (NYSE:ALL) is an insurance provider that covers a range of needs for both individuals and businesses. Its portfolio ranges from auto insurance to life and health insurance. The company operates through a wide network of Allstate agents, independent agents, benefits brokers, and online channels.

On April 22, Joshua Shanker, an analyst from Bank of America Securities, reiterated the Buy rating on the stock while keeping the price target the same at $279. The company faced higher than anticipated catastrophe losses during the fiscal fourth quarter of 2024, which increased $294 million year-over-year to reach $315 million. This was mainly due to Hurricane Milton and re-estimates for Hurricane Helene. Nevertheless, the analyst noted that The Allstate Corporation (NYSE:ALL) was able to manage these losses effectively and has shown resilience by adjusting its premium written projections upwards. The company increased its premiums by 15.3% year-over-year reflecting higher average premiums and policies in force growth of 2.4%.

Looking ahead, The Allstate Corporation (NYSE:ALL) expects to close the sale of its employer voluntary benefits business to Stancorp Financial for $2 billion and health business to Nationwide for $1.25 billion. Both deals are expected to close in 2025. Analysts expect more than 16% upside for the stock and billionaire Nelson Peltz has a stake worth more than $59 million. It is one of the billionaire Nelson Peltz’s stock picks with the highest upside potential.