Carl Icahn Owns Allstate Stock: Should You?
Last month, investors learned that billionaire activist investor Carl Icahn had accumulated a $400 million stake in Allstate (NYSE: ALL). Icahn is best known for his shareholder activism, buying up companies when no one wants them and unlocking their value, which then delivers value to shareholders.
The activist investor added the stock last year at around $90 a share. Icahn cited the company's cheap valuation as well as its strategic moves as his key reasons for investing in the insurer. If Icahn is on board with Allstate, should you buy it, too?
Image source: Getty Images.
Source Fool.com
