11 Best Very Cheap Stocks to Buy According to Hedge Funds

3. The Allstate Corporation (NYSE:ALL)

Number of Hedge Fund Holders: 62

Forward P/E Ratio: 10.67

The Allstate Corporation (NYSE:ALL) is one of the best very cheap stocks to buy according to hedge funds. On August 21, the company provided the July 2025 monthly release, where it reported catastrophe losses totaling $184 million (pre-tax) or $145 million (after-tax) for the month. The losses resulted from 19 separate wind and hail events across the United States.

Compared to the same month last year, catastrophe losses have decreased significantly (July 2024 losses reached $587 million). For the current annual aggregate period, beginning April 1, 2025, pre-tax catastrophe losses total $2.174 billion, including the July figure. Alongside the catastrophe loss report, Allstate provided an update on its policies in force as of July 31, 2025. Homeowners policies increased by 2.2% year-over-year to 7.6 million. Auto policies saw a slight year-over-year increase of 0.6%, reaching 25.2 million. While Commercial lines policies continued a downward trend, decreasing by 32% compared to the prior year.

The Allstate Corporation (NYSE:ALL) is an insurance company. It provides auto, home, life, and commercial insurance products to approximately 16 million households across the United States and Canada. The company operates through a network of exclusive agents, independent agencies, call centers, and digital platforms.