Allstate share price climbs as activist Trian builds stake

October 17, 2023

Shares in Allstate reached $122.76 at market close on Monday, a 6.68% increase over the past five days, after it was revealed that Trian Fund Management, the hedge fund run by billionaire investor Nelson Peltz, has built a stake in the carrier.

Prior to the news of Trian’s involvement, Allstate’s share price had fallen by 10.66% year to date.

According to Reuters, the activist hedge fund began building its stake as the carrier struggled to cope with the fallout from natural disasters,...

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