5 Best Dividend Stocks According to Anthony Bozza’s Lakewood Capital

1. Jackson Financial Inc. (NYSE:JXN)

Number of Hedge Fund Holders: 21
Dividend Yield as of February 24: 5.00%
Lakewood Capital’s Stake Value: $44,549,000

Jackson Financial Inc. (NYSE:JXN), an American life insurance company, initiated its dividend policy in November 2021. The company pays a quarterly dividend of $0.50 per share, with a solid dividend yield of 5.00% as of February 24. On January 25, Jefferies initiated its coverage on Jackson Financial Inc. (NYSE:JXN) with a ‘Buy’ rating and $52 price target, with the firm being bullish on the company’s cash flows.

In Q4 2021, Lakewood Capital increased its stake in Jackson Financial Inc. (NYSE:JXN) by 14% to 1.07 million shares worth over $44.5 million. The company represented 1.89% of Anthony Bozza’s 13F portfolio.

Lakewood was one of the 21 hedge funds tracked by Insider Monkey that reported owning stakes in Jackson Financial Inc. (NYSE:JXN) as of the end of 2021, down from 22 in the previous quarter. The total value of those stakes was roughly $450 million.

Curreen Capital mentioned Jackson Financial Inc. (NYSE:JXN) in its Q4 2021 investor letter. Here is what the firm had to say:

“We cut a weed with Conduent to water a flower with Jackson. We added to Jackson, which has blossomed into a flower. In our Q3 letter I highlighted the limited information on this recent spinoff – and management has capably addressed many of the unknowns. On capital allocation, Jackson initiated a dividend and a share repurchase plan for about 10% of the company. Management then moved quickly and bought back at least 5% of Jackson’s shares at very attractive prices. Management refinanced its short-term debt on attractive terms. A director and an executive also bought stock in the quarter. Each of these actions made Jackson more of a flower. We averaged up (paying $32.78/share) and made Jackson our largest holding.”

For additional compelling dividend stock picks, take a look at 10 Dividend Aristocrats with Over 3% Yield and 10 High Yield Dividend Kings for 2022

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