Top 10 Health Insurance Stocks To Buy

7. The Allstate Corporation (NYSE:ALL)

Number of Hedge Fund Holders: 71

The Allstate Corporation (NYSE:ALL) is an American insurance firm that provides a wide range of services, including car, home, and life insurance. The company’s portfolio also includes dental, disability, cancer, critical illness, and accident insurance. In 2024, the company’s individual health unit generated adjusted net income of $30 million.

Despite severe losses caused by natural disasters, the company recorded a 30% rise in net profits in the fourth quarter of 2024, totaling about $1.9 billion. EPS for Q4 was $7.07, up 28.1% over the previous year. Net investment income also increased significantly, gaining 37.9% year on year to $833 million.

On February 28, Piper Sandler analysts reiterated their Overweight rating and $248 price target on The Allstate Corporation (NYSE:ALL). The firm’s trust in Allstate stems from conversations at the company’s headquarters and comes ahead of the next annual AIFA insurance conference. Allstate has been under fire owing to worries about the drop in vehicle insurance policy-in-force (PIF) within its auto division. Piper Sandler, on the other hand, sees a bright future for the insurer, predicting that the company will reverse its downward trend this year.